Barings BDC Raises $300 Million through 5.200% Notes Due 2028 Offering

Barings BDC has priced a $300 million public offering of 5.200% notes due 2028. The company plans to use the net proceeds to repay indebtedness under its senior secured credit facility and may reborrow for general corporate purposes. J.P. Morgan Securities LLC, ING Financial Markets LLC, and others are acting as joint bookrunners and co-managers for the offering. Investors should carefully consider Barings BDC's investment objective and strategies before investing.

Barings BDC, Inc. (NYSE: BBDC) has priced a public offering of $300 million in 5.200% notes due 2028. The notes, which will bear interest at a rate of 5.200% per year, payable semiannually, will mature on September 15, 2028, and may be redeemed at any time at par plus a "make-whole" premium if applicable. The offering is expected to close on September 15, 2025, subject to customary closing conditions.

Barings BDC intends to use the net proceeds from this offering to repay indebtedness under its senior secured credit facility with ING Capital LLC, initially entered into in February 2019, as amended, restated, and otherwise modified from time to time. The company may then reborrow under this facility for general corporate purposes, including investing in portfolio companies in accordance with its investment objective.

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 are acting as joint bookrunners for this offering. 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 are acting as co-managers.

Investors should carefully consider Barings BDC's investment objective and strategies and the risks related to Barings BDC and the offering before investing. The pricing term sheet dated September 8, 2025, the preliminary prospectus supplement dated September 8, 2025, the accompanying prospectus dated September 26, 2024, each of which has been filed with the Securities and Exchange Commission, any related free writing prospectus, and any information incorporated by reference in each, contain this and other information about Barings BDC and should be read carefully before investing.

References:
[1] https://www.stocktitan.net/news/BBDC/barings-bdc-inc-prices-public-offering-of-300-million-of-5-200-notes-zvod4kojntlc.html
[2] https://www.ainvest.com/news/corporate-capital-structure-optimization-buybacks-analyzing-mountain-finance-2025-strategy-bdc-implications-2509/