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Goldman Sachs BDC to offer unsecured convertible notes

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Goldman Sachs BDC to offer unsecured convertible notes

Goldman SachsBDC Inc. plans to offer up to $100 million of its convertible notesdue 2022.

The company also plans to grant the initial purchasers an optionto purchase up to an additional $15 million of the notes to cover anyoverallotments. The notes will be offered and sold only to qualifiedinstitutional buyers.

The notes are expected to be unsecured, to pay interestsemiannually and to be convertible under specified circumstances based on ato-be-determined conversion rate. Upon conversion, the company would pay ordeliver cash, company common shares or a combination of cash and common shares,at the company's election. The company is not expected to have the right toredeem the notes prior to maturity. The notes are expected to mature in April2022, unless repurchased or converted prior to such date.

The interest rate, conversion rate and other financial termsof the notes will be determined by negotiations between the company and theinitial purchasers.

Goldman Sachs BDC plans to use the net proceeds of theoffering to pay down debt under its revolving credit facility.