Goldman Sachs BDC (GS BDC) announced it has favorably amended its senior secured revolving credit agreement, resulting in a reduction of the stated interest rate and an extension of the maturity date.

Aggregate commitments under the revolver increased from $560 million to $570 million. The facility includes an accordion feature that permits the company, under certain circumstances, to increase its total borrowing capacity to a maximum of $1 billion.

GS BDC said the interest rate on the facility was changed from LIBOR plus 2.25% to either LIBOR plus 1.75% or LIBOR plus 2.00%, depending on debt outstanding and subject to borrowing base conditions. The final maturity date has been extended from October 3, 2019 to November 4, 2020.

GS BDC is a specialty finance company that has elected to be regulated as a business development company under the Investment Company Act of 1940.