Barings BDC receives $67M cash from adviser, enters new $11M credit support for Sierra legacy investments

Barings BDC, Inc.

Termination of Prior CSA results in $67,027,611 cash payment from Barings LLC to BBDC by June 30, 2026.
New CSA covers two Sierra legacy portfolio companies with $10,994,928 fair value as of May 29, 2026.
Adviser will waive incentive fees and base management fees or make cash payment for Covered Losses up to $10,994,928.
New CSA automatically terminates if Barings ceases to be investment adviser (except voluntary termination).
Cash payment and waivers exclude from incentive fee calculations under the Advisory Agreement.

item 1.01 item 1.02 item 9.01

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

Barings BDC, Inc. entered into New CSA with Barings LLC valued at $10,994,928 (effective 2026-05-29).

Action: entry
Counterparty: Barings LLC
Value: $10,994,928
Effective: 2026-05-29

Exact text from the filing

Barings BDC, Inc. (the “Company”) and Barings LLC (the “Adviser”) entered into a new Credit Support Agreement (the “New CSA”). The New CSA provides similar credit support as previously provided under the Prior CSA for the remaining unrealized investments in two portfolio companies previously covered by the Prior CSA in an amount equal to the $10,994,928 fair value of such investments as of May 29, 2026 (the “Remaining Obligation”).

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

Barings BDC, Inc. terminated Prior CSA with Barings LLC valued at $67,027,611 (effective 2026-05-29).

Action: termination
Counterparty: Barings LLC
Value: $67,027,611
Effective: 2026-05-29

Exact text from the filing

On May 29, 2026, the Company entered into the Termination and Cancellation Agreement (the “Termination Agreement”) with the Adviser to terminate all rights and obligations under the Prior CSA in exchange for the Adviser’s cash payment, on or before June 30, 2026, of $67,027,611 to the Company

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Barings BDC, Inc. filing history →

Source: SEC EDGAR

accession 0001379785-26-000024

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