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Golub Capital BDC plans common stock offering


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Golub Capital BDC plans common stock offering

Golub Capital BDC Inc. is planning to offer 1,750,000 common shares in a public offering.

The company is also granting the underwriters an option to buy up to an additional 262,500 common shares.

Based on the company's June 6 closing price of $19.69, and assuming the underwriter's option is fully exercised, S&P Global Market Intelligence calculates gross offering proceeds of about $39.6 million.

Proceeds will be used for general corporate purposes and to invest in portfolio companies, along with paying off any related expenses or fees.

Part of the proceeds will also be allocated to capitalize Senior Loan Fund LLC, an unconsolidated Delaware limited liability company co-managed by Golub Capital BDC and RGA Reinsurance Co.

The proceeds will also be used to capitalize subsidiary GC SBIC VI LP. The company expects the subsidiary to then issue debentures and invest as the company's strategy outlines. The proceeds may also be used to repay any outstanding amounts under the company's credit facility.

UBS Investment Bank is the offering's sole book-running manager.