BDCs can hold risk without violating Dodd-Frank rules, SEC says [Reuters]
Golub Capital BDC, Inc. - Closed End Fund (GBDC)
Last golub capital bdc, inc. - closed end fund earnings: 2/7 06:41 pm
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Source: Reuters
BDCs can hold risk without violating Dodd-Frank rules, SEC says | Reuters 3 Min Read NEW YORK, Sept 12 (LPC) - The Securities and Exchange Commission (SEC) has said that Business Development Companies (BDCs) will be able to hold a portion of a Collateralized Loan Obligation (CLO) without violating rules governing closed-end funds. BDCs, which typically lend to privately-owned US mid-sized companies, previously used CLOs as a financing mechanism, often a cheaper option than raising a loan. But risk-retention rules that took effect in December 2016 threw that method into question as regulations governing these funds prohibit advisers from selling securities to the BDC. The decision, offered September 7 in the form of a no-action letter in response to law firm Dechert on behalf of Golub Capital, opens the door for an increase in issuance by seamlessly allowing managers to transition loans from their BDC into a CLO and passing the retention though the adviser and back into the BDC. “This
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News
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- Golub Capital BDC, Inc. Schedules Release of Fiscal Year 2024 Second Quarter Results [Yahoo! Finance]Yahoo! Finance
GBDC
Earnings
- 2/5/24 - Miss
GBDC
Sec Filings
- 4/22/24 - Form 8-K
- 4/22/24 - Form 8-K
- 4/18/24 - Form 425
- GBDC's page on the SEC website