Kayne Anderson BDC Amends Credit Facility, Extending Maturity Date and Lowering Interest Rates

On November 22, 2024, Kayne Anderson BDC, Inc. (KBDC) disclosed the amendment of its senior secured revolving credit facility, as per an 8-K filing with the Securities and Exchange Commission. The amendment to the Corporate Credit Facility included the addition of a new lender and extended the maturity date on existing commitments to November 22, 2029. Additionally, it introduced an extra commitment of $75 million with a maturity date set for February 18, 2027.

This alteration enables the Company, under specific circumstances, to boost the overall size of the credit facility to a maximum of $600 million. Noteworthy changes in the terms involve a reduction in the interest rate on the $400 million commitment. The interest rate on Term Secured Overnight Funding Rate (“Term SOFR”) loans decreased from 2.35% to 2.10%, while the rate for Alternative Base Rate (“ABR”) loans reduced from 1.25% to 1.00%.

The described changes are succinctly outlined in the 8-K filing; however, for full details, reference is made to the Exhibit 10.1, which contains the complete amendment to the Corporate Credit Facility.

Furthermore, on November 25, 2024, KBDC issued a press release (Exhibit 99.1) informing the public of the credit facility amendment. This announcement reiterated the terms of the updated Corporate Credit Facility, emphasizing the changes made.

Kayne Anderson BDC, Inc. is a business development company that primarily invests in first lien senior secured loans, while also focusing on unitranche and split-lien loans to middle market companies. The company is externally managed by KA Credit Advisors, LLC, a subordinate controlled entity of Kayne Anderson Capital Advisors, L.P.

Cautionary forward-looking statements were disclosed in the press release, emphasizing the risks and uncertainties involved. KBDC stated that although forward-looking statements are made based on current expectations, estimates, and projections, these are subject to risks, uncertainties, and factors beyond the Company’s control that could lead to materially different results.

While this announcement is considered “furnished” and thus not formally filed by KBDC under the Securities Exchange Act of 1934, it has provided valuable transparency regarding the recent modifications to its Corporate Credit Facility. Investors and stakeholders are advised to refer to the official filing for comprehensive details on these amendments.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Kayne Anderson BDC’s 8K filing here.

About Kayne Anderson BDC

Kayne Anderson BDC Inc is a business development company which invests primarily in first lien senior secured loans, with a secondary focus on unitranche and split-lien loans to middle market companies. Kayne Anderson BDC Inc is based in CHICAGO.