Daily News: May 16, 2014

Golub Capital BDC Prices Term Debt Securitization


Golub Capital BDC, a business development company, announced that its wholly-owned and consolidated subsidiary, Golub Capital BDC CLO 2014 LLC, has priced a twelve year $400 million term debt securitization.

Based upon current LIBOR rates and including the amortization of costs and fees associated with the debt securitization, the company projects an all-in yield of 2.4 % on the class A and class B notes which compares favorably to the all-in yield of 3.1% on the company’s revolving credit facility with Wells Fargo for the three months ended March 31, 2014.

Golub said the term debt securitization is expected to be 70% – 80.0% funded at close with assets that currently secure the company’s revolving credit facility with Wells Fargo and with assets that are currently unlevered.