Golub Capital BDC amends revolver for SOFR transition

Chicago, Sept. 8 – Golub Capital BDC Inc. is amending its senior secured revolving credit agreement from Feb. 11, 2021 with JPMorgan Chase Bank, NA as administrative agent and collateral agent to prepare for the transition away from Libor.

Interest will now be based on SOFR plus an adjustment between 11.448 basis points and 42.826 bps.

The interest rate is based on the gross borrowing base and the margin is either 175 bps if the combined debt amount is above 1.6x or 187.5 if it is less.

The Sept. 2 amendment will become effective Sept. 13 if the administrative agent does not receive an objection by the lenders before that date.

The $475 million revolver lists MUFG Union Bank, NA and SMBC as syndication agents.

JPMorgan Chase Bank, NA, MUFG Union Bank, NA and SMBC are joint bookrunners and joint lead arrangers.

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

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