Kayne Anderson BDC, Inc. announced the successful closing of a private placement offering of $200 million of senior unsecured notes. The offering included $40 million of floating rate Series C Notes with an interest rate of SOFR plus 2.32% due June 2028, $60 million of 5.80% Series D Notes due June 2028, and $100 million of 6.15% Series E Notes due October 2030.
The funding for these notes is scheduled to occur on October 15, 2025. The net proceeds from this offering will be utilized to refinance existing debt and for general corporate purposes, enhancing the company's financial flexibility and capital structure.
In connection with the Series D and Series E Notes, KBDC entered into interest rate swaps. These swaps are designed to align the interest rates of the company’s liabilities more closely with its investment portfolio, which predominantly consists of floating rate loans, thereby managing interest rate risk.
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