Golub Capital BDC prices $250 million 7.050% notes offering due 2028

Golub Capital BDC, Inc. (NASDAQ: GBDC) announced it has priced an underwritten public offering of $250 million in aggregate principal amount of 7.050% notes due 2028.

The notes will mature on December 5, 2028 and may be redeemed in whole or in part at the company's option at any time prior to November 5, 2028, at par plus a make-whole premium, and thereafter at par.

The new notes constitute an additional issuance of the company's existing 7.050% notes due 2028, which were initially issued on December 5, 2023 in the amount of $450 million. Upon issuance of the new notes, the total outstanding aggregate principal amount of the company's 7.050% notes due 2028 will be $700 million.

RBC Capital Markets, LLC is serving as sole book-running manager for the offering. The offering is expected to close on September 26, 2025, subject to customary closing conditions.

The company stated it intends to use the net proceeds from the offering to repay a portion of outstanding indebtedness under its senior secured revolving credit facility with JPMorgan Chase Bank, N.A. The company noted it may re-borrow under that facility or borrow under its unsecured revolving credit facility with GC Advisors LLC for general corporate purposes, including investing in portfolio companies.

Golub Capital BDC is an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company. The company invests primarily in one stop and other senior secured loans to middle-market companies often sponsored by private equity investors.

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