Kayne Anderson BDC Extends Credit Facility Maturity and Lowers Borrowing Costs

Kayne Anderson BDC, Inc. (NYSE: KBDC) has announced an amendment to its senior secured revolving credit facility. This amendment introduces a new lender and extends the maturity date on the existing $400 million of aggregate commitments to November 22, 2029. Additionally, an extra $75 million commitment has been added with a maturity date of February 18, 2027. The amendment also allows for the potential increase of the facility size to a maximum of $600 million under certain conditions. Furthermore, the interest rate on the $400 million commitment has been reduced from 2.35% to 2.10% for Term Secured Overnight Funding Rate (SOFR) loans and from 1.25% to 1.00% for Alternative Base Rate (ABR) loans.

Kayne Anderson BDC, Inc. is a business development company that primarily invests in first lien senior secured loans, with additional investments in unitranche and split-lien loans targeting middle market companies. The company is managed externally by KA Credit Advisors, LLC, a subsidiary of Kayne Anderson Capital Advisors, L.P. KBDC operates under the Investment Company Act of 1940 and aims to generate current income and capital appreciation.

This strategic amendment is expected to enhance KBDC's financial flexibility and reduce its borrowing costs, positioning the company for potential growth and improved financial performance.