Golub’s BDC does $370m in new originations in Q2

The US lender’s business development company put 85 percent of the new deals into one-stop loans.  

The Golub Capital BDC has originated $370.5 million in new middle-market investment commitments during the three months ended June 30. About 85 percent of the new deals were one-stop loans, 14 percent were senior secured loans and 1 percent were equity securities, the firm said in a statement on 13 July. Of the new mid-market investment commitments, $345.2 million funded at close.

During the three months ended June 30, the Golub Capital BDC also invested $30.9 million in its Senior Loan Fund (SLF), a Delaware limited liability company that invests in senior secured loans and is co-managed by Golub Capital BDC and RGA Reinsurance Company. 

Total investments at fair value are estimated to have increased from the prior quarter by $147.6 million, after factoring in debt repayments, sales of securities, net fundings on revolvers and net change in unrealized gains and losses.

Golub Capital BDC invests primarily in senior secured, one-stop, second lien and subordinated loans of mid-market companies that are often sponsored by private equity investors. The BDC's investment activities are managed by GC Advisors, an affiliate of Golub Capital.

Golub Capital is a credit manager with about $15 billion of capital under management. The firm operates across its four business lines: middle-market lending, late-stage lending, broadly syndicated loans and opportunistic credit. Golub has lending offices in Chicago, New York and San Francisco.