Kayne Anderson BDC gets two credit facilities totaling $525 million

By Wendy Van Sickle

Columbus, Ohio, Feb. 25 – Kayne Anderson BDC, Inc. and Kayne Anderson BDC Financing, LLC established two new credit facilities and fully repaid the $150 million outstanding balance on its existing loan and security agreement on Feb. 18, according to an 8-K filing with the Securities and Exchange Commission.

Specifically, the company entered into a $275 million revolver with a commitment termination date of Feb. 18, 2026 and a final maturity date of Feb. 18, 2027 and a $250 million revolver with a reinvestment period ending Feb. 18, 2025 and a faint maturity of Feb. 18, 2027.

The $275 million revolver bears interest at term SOFR plus 235 basis points, which includes a SOFR adjustment of 10 bps. It has a commitment fee of 37.5 bps, and there is an option to expand the revolver up to a total of $550 million.

The $250 million revolver bears interest at SOFR plus 235 bps and has a commitment fee of 50 bps to 150 bps, depending on the size of the unused portion.

Sumitomo Mitsui Banking Corp is the administrative agent and bookrunner for the $275 million agreement and is a joint bookrunner with JPMorgan Chase Bank, NA.

Wells Fargo Bank, NA is administrative agent of the $250 million revolver with U.S. Bank Trust Co., NA as collateral agent.

Proceeds may be used for general corporate purposes.

Kane Anderson BDC was formed to make investments in middle-market companies and is based in Houston.

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