Goldman Sachs BDC expands and extends revolver, amends interest rates

By Marisa Wong

Morgantown, W.Va., Nov. 5 – Goldman Sachs BDC, Inc. amended its senior secured revolving credit agreement to increase aggregate commitments under the revolver to $570 million from $560 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment, completed at Nov. 4, also increases the accordion feature, allowing the company to increase its total borrowing capacity to a maximum of $1 billion.

In addition, the interest rate on the revolver was changed from Libor plus 225 basis points to either Libor plus 175 bps or Libor plus 200 bps, depending on debt outstanding and subject to borrowing base conditions.

The New York-based business development company also extended the final maturity date to Nov. 4, 2020 from Oct. 3, 2019.

Goldman Sachs BDC specializes in middle market and mezzanine investment in private companies.

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