By Abigail W. Adams
Portland, Me., June 28 – Goldman Sachs BDC, Inc. priced an upsized $40 million add-on to its 4.5% convertible notes due 2022 at a public offering price of 99.26, according to a 497AD filing with the Securities and Exchange Commission.
SunTrust Robinson Humphrey Inc., BofA Merrill Lynch, Morgan Stanley & Co. LLC and Goldman Sachs & Co. are joint bookrunners for the registered offering.
The initial size of the add-on was $32.5 million.
The add-on will form a single unit with the 4.5% convertible notes due April 1, 2022, lifting the total outstanding amount to $155 million.
The notes will have a conversion price of $24.49. They are non-callable.
Conversions will be settled in cash, shares, or a combination of both at the company’s option.
Proceeds will be used to repay a portion of the company’s revolving credit facility.
Goldman Sachs BDC is a New York-based specialty finance business development company.
| Issuer: | Goldman Sachs BDC, Inc.
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| Securities: | Add-on to 4.5% convertible senior notes due 2022
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| Amount: | $40 million
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| Maturity: | April 1, 2022
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| Bookrunners: | SunTrust Robinson Humphrey Inc., BofA Merrill Lynch, Morgan Stanley & Co. LLC and Goldman Sachs & Co.
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| Coupon: | 4.5%
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| Price: | 99.26
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| Conversion premium: | 17%
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| Conversion price: | $24.49
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| Conversion rate: | 40.8397
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| Call options: | Non-callable
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| Put options: | None
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| Pricing date: | June 28
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| Settlement date: | July 2
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| Stock symbol: | NYSE: GSBD
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| Stock price: | $20.95 at market close June 27
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| Market capitalization: | $827.58 million
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