Barings BDC, Inc. (BBDC): debt financing — Barings BDC issues $300M 5.200% notes due 2028, net proceeds ~$294.7M to repay credit facility

Barings BDC, Inc.

$300M aggregate principal of 5.200% notes due Sept 15, 2028; semi-annual interest starting Mar 15, 2026.
Net proceeds ~$294.7M after underwriting discounts and expenses; used to repay senior secured credit facility.
Notes are unsecured, rank pari passu with existing unsecured debt and structurally junior to subsidiary debt.
Entered $300M notional interest rate swap: receives 5.200% fixed, pays SOFR + 2.059% semi-annually.
Indenture includes asset coverage covenant under Investment Company Act and change-of-control repurchase provision.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Barings BDC, Inc. incurred senior notes of $300.0 million aggregate principal amount with U.S. Bank Trust Company, National Association, as trustee at 5.200% per year maturing September 15, 2028.

Instrument: senior notes
Principal: $300.0 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association, as trustee
Rate: 5.200% per year
Maturity: September 15, 2028
Event: incurrence

Exact text from the filing

Third Supplemental Indenture, dated September 15, 2025, to the indenture between the Company and the Trustee, dated November 23, 2021 (the “Base Indenture” and, together with the Third Supplemental Indenture, the “Indenture”). The Third Supplemental Indenture relates to the Company’s issuance of $300.0 million aggregate principal amount of its 5.200% notes due 2028 (the “Notes”). The Notes will mature on September 15, 2028

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Barings BDC, Inc. filing history →

Source: SEC EDGAR

accession 0001379785-25-000041

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