Barings BDC Launches $300M 5.200% Notes Due 2028 Offering

Barings BDC has priced a $300M public offering of 5.200% notes due 2028. The notes bear 5.200% annual interest, payable semiannually, and mature on September 15, 2028. The offering is expected to close on September 15, 2025. Net proceeds will be used for general corporate purposes, including the funding of investments.

Barings BDC, Inc. (NYSE: BBDC) has priced a $300 million public offering of 5.200% notes due 2028. The notes will bear an annual interest rate of 5.200%, payable semiannually, and mature on September 15, 2028. The offering is expected to close on September 15, 2025, subject to customary closing conditions .

The proceeds from the offering will be used to repay indebtedness under Barings BDC's senior secured credit facility with ING Capital LLC, which was initially entered into in February 2019. Following the repayment, Barings BDC may reborrow under this facility for general corporate purposes, including investments in portfolio companies aligned with its investment objective .

Barings BDC, a publicly traded, externally managed investment company, seeks to invest primarily in senior secured loans in middle-market companies across various industries. The company's investment activities are managed by its investment adviser, Barings LLC, a leading global asset manager based in Charlotte, NC with $456+ billion in AUM as of June 30, 2025 .

The notes are being underwritten by a syndicate of financial institutions, including J.P. Morgan Securities LLC, ING Financial Markets LLC, MUFG Securities Americas Inc., SMBC Nikko Securities America, Inc., BMO Capital Markets Corp., Fifth Third Securities, Inc., Wells Fargo Securities, LLC, BofA Securities, Inc., BNP Paribas Securities Corp., and Regions Securities LLC, acting as joint bookrunners, and Citigroup Global Markets Inc., Compass Point Research & Trading, LLC, First Citizens Capital Securities, LLC, Keefe, Bruyette & Woods, Inc., Natixis Securities Americas LLC, R. Seelaus & Co., LLC, Raymond James & Associates, Inc., SG Americas Securities, LLC, and WauBank Securities LLC, acting as co-managers .

Investors should carefully consider Barings BDC's investment objective and strategies, as well as the risks associated with the offering, before making any investment decisions. Detailed information about the offering and Barings BDC can be found in the pricing term sheet dated September 8, 2025, the preliminary prospectus supplement dated September 8, 2025, and the accompanying prospectus dated September 26, 2024, each of which has been filed with the Securities and Exchange Commission .

References:
https://www.morningstar.com/news/business-wire/20250908257060/barings-bdc-inc-prices-public-offering-of-300-million-of-5200-notes-due-2028
https://www.ainvest.com/news/barings-bdc-raises-300-million-5-200-notes-due-2028-offering-2509/