<SEC-DOCUMENT>0001225208-20-014285.txt : 20201207
<SEC-HEADER>0001225208-20-014285.hdr.sgml : 20201207
<ACCEPTANCE-DATETIME>20201207122727
ACCESSION NUMBER:		0001225208-20-014285
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20201207
FILED AS OF DATE:		20201207
DATE AS OF CHANGE:		20201207

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MIHALICK DAVID
		CENTRAL INDEX KEY:			0001834615

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00733
		FILM NUMBER:		201371974

	MAIL ADDRESS:	
		STREET 1:		BARINGS LLC
		STREET 2:		300 SOUTH TRYON ST., STE 2500
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28202

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Barings BDC, Inc.
		CENTRAL INDEX KEY:			0001379785
		IRS NUMBER:				061798488
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		300 SOUTH TRYON STREET
		STREET 2:		SUITE 2500
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28202
		BUSINESS PHONE:		(704) 805-7200

	MAIL ADDRESS:	
		STREET 1:		300 SOUTH TRYON STREET
		STREET 2:		SUITE 2500
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Triangle Capital CORP
		DATE OF NAME CHANGE:	20061101
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2020-12-07</periodOfReport>

    <issuer>
        <issuerCik>0001379785</issuerCik>
        <issuerName>Barings BDC, Inc.</issuerName>
        <issuerTradingSymbol>BBDC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001834615</rptOwnerCik>
            <rptOwnerName>MIHALICK DAVID</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O BARINGS LLC</rptOwnerStreet1>
            <rptOwnerStreet2>300 SOUTH TRYON STREET, SUITE 2500</rptOwnerStreet2>
            <rptOwnerCity>CHARLOTTE</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
            <rptOwnerZipCode>28202</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock (&quot;Shares&quot;)</value>
            </securityTitle>
            <transactionDate>
                <value>2020-12-07</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>7859.0000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>8.9719</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15000.0000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">The price reported represents the average purchase price on the Transaction Date.  The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Latavea Cross as attorney-in-fact</signatureName>
        <signatureDate>2020-12-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
