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8-K - GOLUB CAPITAL BDC, Inc. | v195207_8-k.htm |
Exhibit
99.1
GOLUB
CAPITAL BDC, INC. RECEIVES APPROVAL FOR ITS SUBSIDIARY’S SBIC
LICENSE
CHICAGO, IL, August 26, 2010 –
Golub Capital BDC, Inc. (the “Company”) (NASDAQ: GBDC), a business
development company, today announced that its wholly owned subsidiary, GC SBIC
IV, L.P., has received approval for a license from the United States Small
Business Administration (“SBA”) to operate as a Small Business Investment
Company (“SBIC”). As an SBIC, GC SBIC IV, L.P. will be subject to a
variety of regulations and oversight by the SBA concerning, among other things,
the size and nature of the companies in which it may invest as well as the
structure of those investments.
The
license will allow GC SBIC IV, L.P. to obtain leverage by issuing SBA-guaranteed
debentures, subject to the issuance of a capital commitment by the SBA and
customary procedures. Debentures are loans issued by an SBIC which have interest
payable semi-annually and a ten-year maturity. The interest rate is fixed at the
time of issuance at a market-driven spread over U.S. Treasury Notes with
ten-year maturities.
“We are
very pleased to have received approval for the SBIC license within four months
of our IPO,” said Golub Capital BDC, Inc. CEO David Golub. “This should provide
us with an attractive long-term source of leverage for funding future
investments as we continue to grow our business.”
ABOUT
GOLUB CAPITAL BDC, INC.
Golub
Capital BDC, Inc., (NASDAQ: GBDC, www.golubcapitalbdc.com), a business
development company, principally invests in senior secured, unitranche,
mezzanine and second lien loans of middle-market companies that are, in most
cases, sponsored by private equity investors. Golub Capital BDC, Inc.’s
investment activities are managed by its investment adviser, GC Advisors LLC, an
affiliate of the Golub Capital group of companies (“Golub
Capital”).
ABOUT
GOLUB CAPITAL
Golub
Capital, founded in 1994, is a leading lender to middle-market companies. In
2009, Golub Capital was named “Middle Market Lender of the Year” by Buyouts
Magazine and “Debt Financing Agent of the Year” and “Mezzanine Financing Agent
of the Year” by M&A Advisor. As of June 30, 2010, Golub Capital
managed over $4.0 billion of capital, with a team of 46 investment professionals
in New York, Chicago and Atlanta.
FORWARD-LOOKING
STATEMENTS
This
press release may contain “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Statements other than
statements of historical facts included in this press release may constitute
forward-looking statements and are not guarantees of future performance or
results and involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a result of a
number of factors, including those described from time to time in the Company’s
filings with the Securities and Exchange Commission. The Company undertakes no
duty to update any forward-looking statement made herein. All forward-looking
statements speak only as of the date of this press release.
Contact:
Sean
Coleman
Phone:
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212-660-7265
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Email:
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scoleman@golubcapital.com
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