By Mary-Katherine Stinson
Lexington, Ky., July 5 – Kayne Anderson BDC, Inc. has reached an agreement with institutional investors for a private placement of $75 million of senior notes in two tranches, according to an 8-K filing with the Securities and Exchange Commission.
The $25 million of 8.65% senior notes, series A, due June 30, 2027 and the $50 million of 8.74% senior notes, series B, due June 30, 2028 were funded on June 29.
The notes have an optional make-whole call at Treasuries plus 50 basis points, followed by a par call beginning Jan. 1, 2027 for the series A notes and Jan. 2, 2028 for the series B notes.
Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC were agents for Kayne Anderson.
Proceeds will be used to refinance existing leverage and for general corporate purposes.
Kayne Anderson is a Houston-based investment company.
| Issuer: | Kayne Anderson BDC, Inc.
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| Amount: | $75 million
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| Issue date: | June 29
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| Agents: | Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC
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| Distribution: | Private placement
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| 2027 notes
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| Amount: | $25 million
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| Issue: | Senior notes, series A
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| Maturity: | June 30, 2027
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| Coupon: | 8.65%
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| Call features: | Make-whole call at Treasuries plus 50 bps before Jan. 1, 2027; after at par
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| 2028 notes
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| Amount: | $50 million
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| Issue: | Senior notes, series B
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| Maturity: | June 30, 2028
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| Coupon: | 8.74%
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| Call features: | Make-whole call at Treasuries plus 50 bps before Jan. 2, 2028; after at par
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