Golub Capital Announces $25.6MM in Middle-Market Originations
Golub Capital BDC, Inc. announced that it originated $25.6 million in new middle-market investment commitments and $26.8 million in broadly syndicated loans held for short-term investment purposes during the three months ended June 30, 2012.
Approximately 10% of the new middle-market investment commitments were one-stop loans, 6% were subordinated debt/second lien investments, 83% were senior secured loans and 1% were equity securities. Of the new middle-market investment commitments, $23.8 million funded at close. Overall, total investments in portfolio companies at fair value increased by $22.9 million during the three months ended June 30, 2012 after factoring in debt repayments.
“The decline in originations was consistent with our expectations as we began to see a slowdown in our pipeline at the end of March 2012, and that trend continued into April and May. However, we have been seeing an acceleration of new deal flow and expect that this will translate into a substantially higher level of middle-market originations for the quarter ended September 30, 2012,” commented David Golub, CEO of Golub Capital BDC, Inc.
Golub Capital BDC, Inc. principally invests in senior secured, one stop, mezzanine and second lien loans of middle-market companies that are, in most cases, sponsored by private equity investors.