Golub Capital redeems CLO notes due 2023 via $300 million bank loans

By Susanna Moon

Chicago, July 23 – Golub Capital BDC, Inc. said it redeemed its outstanding collateralized loan obligation notes set to mature on July 20, 2023.

The notes were redeemed on July 20 in connection with a $300 million credit facility with Morgan Stanley Bank, NA as lender, according to an announcement.

The outstanding notes were issued as part of the $350 million collateralized loan obligation that initially closed July 16, 2010, the release noted.

After the redemption, the agreements for the 2010 debt securitization were terminated.

For the loans, the revolving availability period extends through Jan. 21, 2019 with final maturity at March 20, 2019. Interest is one-month Libor plus 190 basis points for the revolving period, after which the rate resets to one-month Libor plus 215 bps.

Golub is an externally managed, non-diversified closed-end management investment company based in New York.

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