Golub Capital BDC closed a new $300 million credit facility with Morgan Stanley Bank as lender.

The credit facility has a revolving availability period that extends through January 21, 2019 and a final maturity date of March 20, 2019. During the revolving availability period, the facility will bear interest at a rate equal to the one-month LIBOR + 1.90%. Commencing on the last day of the revolving availability period, the interest rate on borrowings under the facility will reset to one-month LIBOR + 2.15% for the remaining term.

In connection with entry into the credit facility, on July 20, 2018, the company redeemed the outstanding notes issued as part of the $350 million term debt securitization (also known as a collateralized loan obligation, or CLO) that was initially completed on July 16, 2010. Following the redemption, the agreements governing the 2010 debt securitization were terminated. The notes issued as part of said securitization would have otherwise matured on July 20, 2023.