Kayne Anderson BDC completes $75M senior note private placement at 8.65% and 8.74%

Kayne Anderson BDC, Inc.

$75M private placement: $25M Series A 8.65% due June 2027 and $50M Series B 8.74% due June 2028.
Net proceeds will be used to refinance existing debt and for general corporate purposes.
Notes are senior unsecured and sold in a private placement; not registered under Securities Act.
Debt rating requirement: Notes received a 'BBB' rating from Kroll as a closing condition.
Covenants include Secured Debt Ratio test (≤60% until June 2024, then ≤55%) and interest rate step-ups.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Kayne Anderson BDC, Inc. entered into senior unsecured notes (the “Notes”) valued at $75,000,000 (effective 2023-06-29).

Action: entry
Agreement: notes offering
Value: $75,000,000
Effective: 2023-06-29

Exact text from the filing

On June 29, 2023, Kayne Anderson BDC, Inc. (the “Company”) announced that it completed its previously announced private placement of $75,000,000 of senior unsecured notes (the “Notes”).

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Kayne Anderson BDC, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-054281

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