Golub Capital BDC 3 reduces credit facility, adjusts interest rate

By Mary-Katherine Stinson

Lexington, Ky., March 14 – Golub Capital BDC 3, Inc. and its direct wholly owned subsidiary GBDC 3 Funding LLC entered a fifth amendment effective March 8 to its loan financing and servicing agreement from Sept. 10, 2019, according to an 8-K filing with the Securities and Exchange Commission.

The amendment decreased the borrowing capacity to $625 million from $750 million and extended the revolving period during which GBDC 3 Funding may request drawdowns to March 10, 2024.

The amendment also changed the interest rate at which borrowings are made to the applicable base rate plus 255 basis points during the revolving period and 305 bps after the revolving period.

The base rate is based on the currency of the borrowings and includes SOFR, Euribor and Sonia.

The other material terms were unchanged.

Deutsche Bank AG, New York Branch is the facility agent.

Deutsche Bank Trust Co. Americas is the collateral agent and collateral custodian.

Golub is an externally managed, non-diversified closed-end management investment company based in New York.

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