GOLUB CAPITAL BDC, INC. (NASDAQ:GBDC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.

On October 11, 2019, Golub Capital BDC Funding II LLC (“Funding II”), a wholly-owned subsidiary of Golub Capital BDC, Inc. (the “Company”), entered into an amendment (the “Credit Facility Amendment”) to the document governing the senior secured revolving credit facility (as amended, the “MS Credit Facility II”) by and among Funding II, as the borrower, the Company, as the originator and servicer, Morgan Stanley Senior Funding, Inc., as the administrative agent (“Morgan Stanley”), each of the lenders from time to time party thereto, each of the securitization subsidiaries from time to time party thereto, and Wells Fargo Bank, National Association, as collateral agent, account bank, and collateral custodian. The Credit Facility Amendment was effective as of October 11, 2019.

The Credit Facility Amendment, among other things, increases the borrowing capacity under the MS Credit Facility II from $300.0 million to $500.0 million until the earlier of (i) the closing date of a debt securitization transaction mutually agreed to by the Company and Morgan Stanley or (ii) March 31, 2020, after which the borrowing capacity under the MS Credit Facility II will revert to $200.0 million. The other material terms of the MS Credit Facility II were unchanged.

As previously disclosed, the MS Credit Facility II is secured by all of the assets held by Funding II. Both the Company and Funding II have made customary representations and warranties and are required to comply with various covenants, reporting requirements and other customary requirements for similar credit facilities. Borrowing under the MS Credit Facility II remains subject to the leverage restrictions contained in the Investment Company Act of 1940, as amended (the “1940 Act”). In accordance with the 1940 Act, with certain limited exceptions, the Company is currently allowed to borrow amounts such that its asset coverage, as defined in the 1940 Act, is at least 150% after such borrowing.

The description above is only a summary of the material provisions of the Credit Facility Amendment and is qualified in its entirety by reference to a copy of the Credit Facility Amendment, which is filed as Exhibit 10.1 to this current report on Form 8-K.

The information contained in Item 1.01 of this current report on Form 8-K is incorporated by reference in this Item 2.03.

10.1

Third Amendment to Loan and Servicing Agreement, dated as of October 11, 2019, by and among Golub Capital BDC Funding II LLC, as the borrower; Golub Capital BDC, Inc., as the originator and as the servicer; Morgan Stanley Senior Funding, Inc., as the administrative agent; and Morgan Stanley Bank, N.A., as the lender.

GOLUB CAPITAL BDC, Inc. Exhibit
EX-10.1 2 tm1920351d1_ex10-1.htm EXHIBIT 10.1   Exhibit 10.1   EXECUTION VERSION   ThIRD AMENDMENT TO Loan and Servicing Agreement (this “Amendment”),…
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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).