<SEC-DOCUMENT>0001140361-22-014385.txt : 20220413
<SEC-HEADER>0001140361-22-014385.hdr.sgml : 20220413
<ACCEPTANCE-DATETIME>20220413161916
ACCESSION NUMBER:		0001140361-22-014385
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220225
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20220413
DATE AS OF CHANGE:		20220413

FILER:

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

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00733
		FILM NUMBER:		22824910

	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>8-K/A
<SEQUENCE>1
<FILENAME>ny20002465x9_8ka.htm
<DESCRIPTION>FORM 8-K/A
<TEXT>
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      <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; color: #000000; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
      <div>&#160;</div>
      <div>
        <hr style="height: 1px; width: 30%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">&#160;</div>
      <div style="text-align: center; color: #000000; font-size: 18pt; font-weight: bold;">FORM 8-K/A</div>
      <div style="text-align: center; color: #000000; font-size: 18pt; font-weight: bold;"><font style="font-size: 12pt;">(Amendment No. 1)</font><br>
      </div>
      <div>&#160; <br>
      </div>
      <div style="text-align: center; color: #000000;">
        <div>
          <hr style="height: 1px; width: 30%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">&#160;</div>
      </div>
      <div style="text-align: center; color: #000000; font-size: 14pt; font-weight: bold;">CURRENT REPORT</div>
      <div>&#160;</div>
      <div style="text-align: center; color: #000000; font-size: 12pt; font-weight: bold;">Pursuant to Section 13 or 15(d) of the</div>
      <div style="text-align: center; color: #000000; font-size: 12pt; font-weight: bold;">Securities Exchange Act of 1934</div>
      <div>&#160;</div>
      <div style="text-align: center; color: #000000; font-size: 12pt; font-weight: bold;">Date of Report (Date of earliest event reported): February 25, 2022</div>
      <div>
        <div>&#160;</div>
        <div>
          <hr style="height: 1px; width: 30%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">&#160;</div>
      </div>
      <div style="text-align: center; color: #000000; font-size: 24pt; font-weight: bold;">Barings BDC, Inc.</div>
      <div>&#160;</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">(Exact name of registrant as specified in its charter)</div>
      <div>&#160;
        <div style="text-align: center; color: #000000;">
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        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zc01d7bcfd6b14103b788d164c771e6a4" border="0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 33%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">Maryland</div>
              </td>
              <td style="width: 34%; vertical-align: top; text-align: center;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">814-00733</div>
              </td>
              <td style="width: 33%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">06-1798488</div>
              </td>
            </tr>
            <tr>
              <td style="width: 33%; vertical-align: bottom;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">(State or Other Jurisdiction<br>
                  of Incorporation)</div>
              </td>
              <td style="width: 34%; vertical-align: top; text-align: center;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Commission<br>
                  File Number)</div>
              </td>
              <td style="width: 33%; vertical-align: bottom;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">(IRS Employer<br>
                  Identification No.)</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z5c294449aff548bc8810d5e1e64dae87" border="0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 66%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">300 South Tryon Street, Suite 2500<br>
                  Charlotte, North Carolina</div>
              </td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 34%; vertical-align: bottom;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">28202</div>
              </td>
            </tr>
            <tr>
              <td style="width: 66%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Address of Principal Executive Offices)</div>
              </td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 34%; vertical-align: bottom;">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Zip Code)</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: center; color: #000000; font-weight: bold;"> <br>
      </div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Registrant&#8217;s telephone number, including area code: (704) 805-7200</div>
      <div>&#160;</div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">N/A</div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Former name or former address, if changed since last report.)</div>
      &#160;
      <div style="text-align: center; color: #000000;">
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      <div style="color: #000000; font-weight: bold;"> <br>
      </div>
      <div style="color: #000000; font-weight: bold;">Securities registered pursuant to Section 12(b) of the Act:</div>
      <div style="color: #000000; font-weight: bold;"> <br>
      </div>
      <div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze035f083f9d84279ac4566b5b2b6fde6" border="0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 32%; vertical-align: bottom; border-bottom: 2px solid black;">
                <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">Title of Each Class</div>
              </td>
              <td colspan="1" style="width: 3%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td style="width: 32%; vertical-align: bottom; border-bottom: 2px solid black;">
                <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">Trading Symbol</div>
              </td>
              <td colspan="1" style="width: 3%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td style="width: 32%; vertical-align: bottom; border-bottom: 2px solid black;">
                <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">Name of Each Exchange on Which Registered</div>
              </td>
            </tr>
            <tr>
              <td style="width: 32%; vertical-align: top;">
                <div style="text-align: center; color: #000000;">Common Stock, par value $0.001 per share</div>
              </td>
              <td colspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 32%; vertical-align: top;">
                <div style="text-align: center; color: #000000;">BBDC</div>
              </td>
              <td colspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 32%; vertical-align: bottom;">
                <div style="text-align: center; color: #000000;">The New York Stock Exchange</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="color: #000000;"> <br>
      </div>
      <div style="color: #000000;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>
      <div style="color: #000000;"> <br>
      </div>
      <div style="color: #000000;">
        <table style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z31d2c3ef94834938bf0ea3c1b0b48518" border="0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 4.92%; vertical-align: top;">
                <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 95.08%; vertical-align: top;">
                <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 4.92%; vertical-align: top;">
                <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 95.08%; vertical-align: top;">
                <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 4.92%; vertical-align: top;">
                <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 95.08%; vertical-align: top;">
                <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
              </td>
            </tr>
            <tr>
              <td style="width: 4.92%; vertical-align: top;">
                <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 95.08%; vertical-align: top;">
                <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="color: #000000;"> <br>
      </div>
      <div style="text-align: justify; color: #000000;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934
        (17 CFR &#167;240.12b-2).</div>
      <div><br>
      </div>
      <div style="text-align: right; color: #000000;">Emerging growth company &#9744;</div>
      <div><br>
      </div>
      <div style="text-align: justify; color: #000000;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
        provided pursuant to Section 13(a) of the Exchange Act. &#9744;</div>
      <div style="text-align: justify; color: #000000;"> <br>
      </div>
      <div style="text-align: justify; color: #000000;">
        <hr style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" align="center"> </div>
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      <div style="text-align: center;"><font style="font-weight: bold;">Explanatory Note</font></div>
      <div><font style="font-weight: bold;"></font><br>
        Barings BDC, Inc. (the &#8220;Company&#8221;) is filing this Amendment No. 1 on Form 8-K/A (this &#8220;Amendment&#8221;) to amend the Form 8-K filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on March 3, 2022 (the &#8220;Original Report&#8221;) relating to the Company&#8217;s
        entry into an amendment to the Senior Secured Revolving Credit Agreement among the Company, as borrower, Energy Hardware Holdings, Inc., Barings BDC Finance I, LLC and Barings BDC Senior Funding I, LLC, as subsidiary guarantors, the lenders party
        thereto and ING Capital LLC, as administrative agent. The text of the Original Report was accurate and correctly identified that it was being filed under Items 1.01 (Entry into a Material Definitive Agreement), 2.03 (Creation of a Direct Financial
        Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant) and 9.01 (Financial Statements and Exhibits).<br>
        <br>
        However, due to administrative error, the Original Report was incorrectly tagged on the SEC&#8217;s EDGAR system and mistakenly filed under Item 1.03 (Bankruptcy or Receivership) instead of Item 1.01 (Entry into a Material Definitive Agreement). The sole
        purpose of the Amendment is to correctly tag and refile the Original Report on EDGAR as a filing under Items 1.01, 2.03 and 9.01. No disclosure in the text of the Original Report was changed as a result of this Amendment, which is reproduced below
        in its entirety. No changes in Exhibit 10.1, which was previously filed with the Original Report, resulted from this Amendment.<br>
      </div>
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          <tr>
            <td style="width: 108pt; vertical-align: top; align: right; font-weight: bold;">Item 1.01</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Entry into a Material Definitive Agreement.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="color: #000000;">The information contained in Item&#160;2.03 of this Current Report on Form&#160;8-K&#160;is incorporated by reference in this Item&#160;1.01.</div>
      <div style="color: #000000;"> <br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z64d109ee9eba405185bf21f792146ccf" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 108pt; vertical-align: top; align: right; font-weight: bold;">Item 2.03.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div>On February 25, 2022, Barings BDC, Inc. (&#8220;BBDC&#8221;) entered into an amendment (the &#8220;Third Amendment&#8221;) to the Senior Secured Revolving Credit Agreement, dated as of February 3, 2019 (as amended by the first amendment thereto, dated as of December 3,
        2019, the second amendment thereto, dated as of December 29, 2021 and the Third Amendment, the &#8220;Credit Agreement&#8221;), among BBDC, as borrower, Energy Hardware Holdings, Inc., Barings BDC Finance I, LLC and Barings BDC Senior Funding I, LLC, as
        subsidiary guarantors, the lenders party thereto and ING Capital LLC (&#8220;ING&#8221;), as administrative agent.&#160;</div>
      <div><br>
      </div>
      <div>Under the Third Amendment, among other changes, (i)&#160;total commitments by lenders were increased to $965,000,000 (the &#8220;Credit Facility&#8221;), (ii) BBDC&#8217;s right to request an increase in commitments under the Credit Facility from new and existing
        lenders on the same terms and conditions as the existing commitments was increased to up to a total of $1,500,000,000, subject to certain conditions, (iii)&#160;the maturity date of the Credit Facility was extended to February 21, 2025 and (iv) the
        Company&#8217;s minimum net worth covenant was increased to a minimum of $500,000,000 as of the last day of any fiscal quarter. The Third Amendment also includes other changes to the Credit Facility, including the replacement of LIBOR benchmark
        provisions with SOFR benchmark provisions. Pursuant to the Third Amendment, borrowings denominated in U.S. Dollars under the Credit Facility bear interest, subject to the Company&#8217;s election, on a per annum basis equal to (i) the applicable base
        rate plus 1.25% (or, after one year, 1.00% if the Company receives an investment grade credit rating) or (ii) term SOFR plus 2.25% (or, after one year, 2.00% if the Company receives an investment grade credit rating) plus a credit spread adjustment
        of 0.10% for borrowings with an interest period of one month, 0.15% for borrowings with an interest period of three months or 0.25% for borrowings with an interest period of six months. The applicable base rate is equal to the greatest of (i) the
        prime rate, (ii) the federal funds rate plus 0.5%, (iii) the Overnight Bank Funding Rate plus 0.5%, (iv) one-month term SOFR plus 1.0% plus a credit spread adjustment of 0.10% and (v) 1%.</div>
      <div><br>
      </div>
      <div>The above summary is not complete and is qualified in its entirety to the full text of the Third Amendment and related documents, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.</div>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z16dd431c0fda40448570506a93e5a1f1" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 108pt; vertical-align: top; align: right; font-weight: bold;">Item 9.01</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Financial Statements and Exhibits.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div>(d)&#160;Exhibits</div>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zc7249ac174da4de2815ddb8142fec8f1" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 10.66%; vertical-align: top;">
              <div style="margin-left: 27.35pt;">10.1*</div>
            </td>
            <td style="width: 1.67%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', serif; font-size: 1pt;">&#160;</div>
            </td>
            <td style="width: 87.67%; vertical-align: top;">
              <div>Amendment No. 3 to Senior Secured Revolving Credit Agreement, dated as of February 25, 2022, by and among BBDC, the subsidiary guarantors party thereto, the lenders party thereto and ING, as administrative agent.**</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="color: #000000;">*Schedules to this Exhibit have been omitted in accordance with Item 601 of Regulation S-K. The registrant agrees to furnish supplementally a copy of all omitted schedules to the SEC upon its request.</div>
      <div style="color: #000000;"> <br>
      </div>
      <div style="color: #000000;">** Previously filed as an exhibit to the Original Report and incorporated herein by reference.<br>
      </div>
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      <div style="text-align: center; color: #000000; font-weight: bold;">SIGNATURES</div>
      <div>&#160;</div>
      <div style="text-indent: 24.75pt; color: #000000;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
      <div style="color: #000000;">&#160;</div>
      <div style="color: #000000;">
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z98df16abbdcd4a01a63876cfece00514" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 49.38%; vertical-align: top;">
                <div style="color: #000000;">&#160;</div>
              </td>
              <td colspan="2" style="width: 50.62%; vertical-align: top;">Barings BDC, Inc.</td>
            </tr>
            <tr>
              <td style="width: 49.38%; vertical-align: top;">&#160;</td>
              <td colspan="2" style="width: 50.62%; vertical-align: top;">
                <div style="color: #000000;"><br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.38%; vertical-align: top;">
                <div style="color: #000000;">&#160;</div>
              </td>
              <td colspan="2" style="width: 50.62%; vertical-align: top;">
                <div style="color: #000000;">&#160;</div>
              </td>
            </tr>
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              <td style="width: 49.38%; vertical-align: top;">
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                  <div style="color: #000000;">Date: April 13, 2022<br>
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                <div style="color: #000000;">By:&#160;</div>
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                <div style="color: #000000;">/s/ Jonathan Bock</div>
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                <div style="color: #000000;">&#160;</div>
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              <td style="width: 6.24%; vertical-align: top;">&#160;</td>
              <td rowspan="1" style="width: 7.84%; vertical-align: top; border-top: #000000 2px solid;">Jonathan Bock</td>
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              <td style="width: 49.38%; vertical-align: top;">
                <div style="color: #000000;">&#160;</div>
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              <td style="width: 6.24%; vertical-align: top;">&#160;</td>
              <td rowspan="1" style="width: 7.84%; vertical-align: top;">Chief Financial Officer</td>
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