By Cristal Cody
Tupelo, Miss., Sept. 29 – Golub Capital BDC, Inc. priced $400 million of 3.375% senior notes due April 15, 2024 (BBB-/BBB-) on Tuesday at a spread of Treasuries plus 325 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
Initial price talk was in the Treasuries plus mid-300 bps area.
The issue was sold at 99.92 to yield 3.399%.
J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc., Morgan Stanley & Co. LLC and MUFG were the bookrunners.
Proceeds will be used primarily to repay outstanding debt.
The business development company is based in New York.
| Issuer: | Golub Capital BDC, Inc.
|
| Amount: | $400 million
|
| Description: | Senior notes
|
| Maturity: | April 15, 2024
|
| Bookrunners: | J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc., Morgan Stanley & Co. LLC and MUFG
|
| Coupon: | 3.375%
|
| Price: | 99.92
|
| Yield: | 3.399%
|
| Spread: | Treasuries plus 325 bps
|
| Call features: | Make-whole call at price equal to greater of par or Treasuries plus 50 bps before March 15, 2024; thereafter at par
|
| Change-of-control put: | Par
|
| Trade date: | Sept. 29
|
| Settlement date: | Oct. 2
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus mid-300 bps area
|
| Marketing: | Roadshow
|
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