Golub Capital BDC has originated $331.5 million in new mid-market commitments in the quarter ended 30 September, the last quarter of Golub BDC’s fiscal year, Golub announced this week (13 October). Most of the investments (81 percent) were unitranche loans, while 11 percent were senior secured facilities, 6 percent were second lien and equity made up 2 percent. Of the new commitments, $293.5 million were funded at close.
During the last three months, Golub Capital BDC also invested $1.1 million in Senior Loan Fund LLC, an unconsolidated Delaware limited liability company that invests exclusively in senior secured loans and is co-managed by Golub Capital BDC and RGA Reinsurance Company.
“The quarter ending September 30 was marked by very strong originations and unusually high repayments. We are particularly pleased with the credit performance of the portfolio,” David Golub, chief executive of the BDC, said in a statement.
Total investments at fair value are estimated to have increased by $22.7 million during the quarter after factoring in debt repayments, sales of securities, net fundings on revolvers and net change in unrealized gains or losses. Total investments at fair value held by SLF are estimated to have decreased by about $0.5 million after weighing the same factors.
Golub Capital BDC is an externally-managed closed-end management investment company that focuses on senior secured, one-stop, second lien and subordinated loans to mid-market companies, many of which are sponsored by private equity investors. Golub Capital BDC's investments are managed by its investment adviser, GC Advisors LLC, an affiliate of the US credit asset manager Golub Capital.
Golub Capital has about $10 billion under management across its three business lines: middle market lending, broadly syndicated loans and opportunistic credit. The firm has offices in in Chicago, New York and San Francisco and invests across the country.