On or about December 21, 2020, GCIC CLO II LLC (the “GCIC 2018 Issuer”), an indirect subsidiary of Golub Capital BDC, Inc. (the “Company”), is expected to enter into a supplemental indenture (the “Supplemental Indenture”) to amend the $908.2 million term debt securitization acquired by the Company as part of its acquisition of Golub Capital Investment Corporation, a Maryland corporation, in September 2019 (the “GCIC 2018 Debt Securitization”).

The Supplemental Indenture is expected to amend the GCIC 2018 Debt Securitization to, among other things, (a) refinance the issued Class A-2 notes issued by the GCIC 2018 Issuer (the “GCIC 2018 Notes”) by redeeming in full the $38.5 million of Class A-2 GCIC 2018 Notes and issuing new Class A-2-R GCIC 2018 Notes in an aggregate principal amount of $38.5 million that will bear interest at a rate of 2.498%, which is a decrease from the rate of 4.665% of the current Class A-2 GCIC 2018 Notes and (b) provide for a non-call period, during which the Class A-2-R GCIC 2018 Notes cannot be redeemed, from the date of the Supplemental Indenture to but excluding June 21, 2021. The Company’s wholly-owned direct subsidiary, GCIC CLO II Depositor LLC, is and will remain the sole owner of the equity of the GCIC 2018 Issuer.

The Class A-2-R GCIC 2018 Notes offered in the refinancing of the GCIC 2018 Debt Securitization will be issued by and will be secured obligations of the GCIC 2018 Issuer. The other material terms of the GCIC 2018 Debt Securitization will be unchanged. As previously disclosed, the pool of loans in the GCIC 2018 Debt Securitization must meet certain requirements, including asset mix and concentration, collateral coverage, term, agency rating, minimum coupon, minimum spread and sector diversity requirements.

The description above is only a summary of the material provisions of the Supplemental Indenture.

Item 7.01. Regulation FD Disclosure.

The pricing terms of the refinanced GCIC 2018 Notes and the expected closing of the Supplemental Indenture are expected to be publicly disclosed on December 15, 2020. The information provided in Item 1.01 of this current report on Form 8-K is incorporated by reference into this Item 7.01.

About GOLUB CAPITAL BDC, INC. (NASDAQ:GBDC)

Golub Capital BDC, Inc. is an externally managed, non-diversified, closed-end, management investment company. The Company’s investment objective is to generate current income and capital appreciation by investing primarily in senior secured and one stop loans of the United States middle-market companies. It may also selectively invest in second lien and subordinated loans of, and warrants and minority equity securities in the United States middle-market companies. The Company seeks to create a portfolio that includes primarily senior secured and one stop loans by primarily investing in the securities of the United States middle-market companies. It generally invests in securities that have been rated below investment grade by independent rating agencies or that would be rated below investment grade if they were rated. The Company’s investment activities are managed by its investment advisor, GC Advisors LLC (GC Advisors).