GOLDMAN SACHS BDC, INC. (NYSE:GSBD) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 – Entry into a Material Definitive Agreement.
On February 25, 2020, Goldman Sachs BDC, Inc. (the “Company”) entered into a sixth amendment (the “Amendment”) to its senior secured revolving credit agreement with Truist Bank (formerly known as SunTrust Bank), as administrative agent (as amended, supplemented or otherwise modified and in effect from time to time, the “Truist Revolving Credit Facility”) to, among other things: (i) extend the commitment termination date and final maturity date to February 25, 2024 and February 25, 2025, respectively, (ii) reduce the stated interest rate from LIBOR plus 2.00% to LIBOR plus 1.875%, subject to certain requirements, and (iii) upon the consummation of the Company’s merger with Goldman Sachs Middle Market Lending Corp. (the “MMLC”) and subject to certain other limited conditions, increase the Truist Revolving Credit Facility size from $795 million to $1.695 billion and increase the accordion feature to allow the Company to increase the total facility size from up to $1,000 million to up to $2.250 billion.
The foregoing description is only a summary of the material provisions of the Amendment and is qualified in its entirety by reference to a copy of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 2.03 – Creation of a Direct Financial Obligation or an Obligation under an Off Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.
Item 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers.
On February 24, 2020, Carmine Rossetti notified the Company of his intention to resign as Principal Accounting Officer of the Company to pursue a new professional opportunity on or around March 17, 2020. Mr. Rossetti’s resignation is not the result of any disagreement with the Company. To assist in an orderly transition, Mr. Rossetti will continue to serve in his current role during the transition period.
Item 8.01 – Other Events.
On February 27, 2020, the Company issued a press release, included herewith as Exhibit 99.1 and incorporated herein by reference, announcing the Amendment.
Item 9.01 – Financial Statements and Exhibits.
(d) Exhibits:
| 10.1 | Sixth Amendment to Senior Secured Revolving Credit Agreement, dated as of February 25, 2020, among the Company, as Borrower, the lenders party thereto, Truist Bank (as successor by merger to SunTrust Bank), as Administrative Agent and as Collateral Agent and other parties party thereto. | |
| 99.1 | Press Release of Goldman Sachs BDC, Inc., dated February 27, 2020. |
Goldman Sachs BDC, Inc. Exhibit
EX-99.(10)(1) 2 d822809dex99101.htm SIXTH AMENDMENT TO SENIOR SECURED REVOLVING CREDIT AGREEMENT Sixth Amendment to Senior Secured Revolving Credit Agreement Exhibit 10.1 EXECUTION COPY SIXTH AMENDMENT TO SENIOR SECURED REVOLVING CREDIT AGREEMENT This SIXTH AMENDMENT TO SENIOR SECURED REVOLVING CREDIT AGREEMENT,…
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About GOLDMAN SACHS BDC, INC. (NYSE:GSBD)
Goldman Sachs BDC, Inc., formerly Goldman Sachs Liberty Harbor Capital, LLC, is a closed-end management investment company. The Company is focused on lending to middle-market companies. Its investment objective is to generate current income and capital appreciation through direct originations of secured debt, including first lien, first lien/last-out unitranche and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments. It focuses on lending to the United States middle-market companies. Its portfolio includes first lien/senior secured debt, first lien/last-out unitranche, second lien/senior secured debt, preferred stock, common stock, and investment funds and vehicles. It invests in healthcare providers and services, textiles, apparel and luxury goods, semiconductors and semiconductor equipment, automobiles, and energy equipment and services sectors. Goldman Sachs Asset Management, L.P. is the investment advisor of the Company.
