XML 19 R8.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Unaudited Consolidated Schedule of Investments - Derivative Instruments (Parenthetical) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Schedule of Investments [Line Items]    
Forward currency contracts $ 15,833,000  
Credit Support Agreements    
Schedule of Investments [Line Items]    
Notional Amount 123,000,000 $ 123,000,000
Value 51,450,000 57,800,000
Forward currency contracts (6,550,000) (200,000)
MVC Credit Support Agreement    
Schedule of Investments [Line Items]    
Forward currency contracts 2,450,000 3,700,000
Sierra Credit Support Agreement    
Schedule of Investments [Line Items]    
Forward currency contracts (9,000,000)  
Interest Rate Swap    
Schedule of Investments [Line Items]    
Forward currency contracts (3,233,000)  
Interest Rate Swap | Senior Unsecured Notes due February 2029    
Schedule of Investments [Line Items]    
Notional Amount 300,000,000  
Forward currency contracts (3,233,000)  
Barings LLC | MVC Credit Support Agreement    
Schedule of Investments [Line Items]    
Notional Amount 23,000,000 [1],[2],[3] 23,000,000 [4],[5],[6]
Value 16,050,000 [1],[2],[3] 17,300,000 [4],[5],[6]
Forward currency contracts 2,450,000 [1],[2],[3] 3,700,000 [4],[5],[6]
Barings LLC | Sierra Credit Support Agreement    
Schedule of Investments [Line Items]    
Notional Amount 100,000,000 [7],[8],[9] 100,000,000 [10],[11],[12]
Value 35,400,000 [7],[8],[9] 40,500,000 [10],[11],[12]
Forward currency contracts $ (9,000,000) [7],[8],[9] $ (3,900,000) [10],[11],[12]
[1]
(a) The MVC Credit Support Agreement (as defined in “Note 2. Agreements and Related Party Transactions”) covers all of the investments acquired by Barings BDC, Inc. (the “Company”) from MVC Capital, Inc. (“MVC”) in connection with the MVC Acquisition (as defined in “Note 2. Agreements and Related Party Transactions”) and any investments received by the Company in connection with the restructuring, amendment, extension or other modification (including the issuance of new securities) of any of the investments acquired by the Company from MVC in connection with the MVC Acquisition (collectively, the “MVC Reference Portfolio”). Each investment that is included in the MVC Reference Portfolio is denoted in the above Schedule of Investments with footnote (28).
[2]
(b)      The Company and Barings LLC (“Barings” or the “Adviser”) entered into the MVC Credit Support Agreement pursuant to which Barings agreed to provide credit support to the Company in the amount of up to $23.0 million.
[3]
(c) Settlement Date means the earlier of (1) January 1, 2031 or (2) the date on which the entire MVC Reference Portfolio has been realized or written off.
[4] Settlement Date means the earlier of (1) January 1, 2031 or (2) the date on which the entire MVC Reference Portfolio has been realized or written off.
[5] The Company and Barings entered into the MVC Credit Support Agreement pursuant to which Barings agreed to provide credit support to the Company in the amount of up to $23.0 million.
[6] The MVC Credit Support Agreement covers all of the investments acquired by the Company from MVC in connection with the MVC Acquisition and any investments received by the Company in connection with the restructuring, amendment, extension or other modification (including the issuance of new securities) of any of the MVC Reference Portfolio. Each investment that is included in the MVC Reference Portfolio is denoted in the above Schedule of Investments with footnote (28).
[7]
(d) See “Note 2. Agreements and Related Party Transactions” for additional information regarding the Credit Support Agreements.
[8]
(e)     The Sierra Credit Support Agreement (as defined in “Note 2. Agreements and Related Party Transactions”) covers all of the investments acquired by the Company from Sierra Income Corporation (“Sierra”) in connection with the Sierra Merger (as defined in “Note 2. Agreements and Related Party Transactions”) and any investments received by the Company in connection with the restructuring, amendment, extension or other modification (including the issuance of new securities) of any of the investments acquired by the Company from Sierra in connection with the Sierra Merger (collectively, the “Sierra Reference Portfolio”). Each investment that is included in the Sierra Reference Portfolio is denoted in the above Schedule of Investments with footnote (29).
[9]
(f)      The Company and Barings entered into the Sierra Credit Support Agreement pursuant to which Barings agreed to provide credit support to the Company in the amount of up to $100.0 million.
[10] Settlement Date means the earlier of (1) April 1, 2032 or (2) the date on which the entire Sierra Reference Portfolio has been realized or written off.
[11] The Company and Barings entered into the Sierra Credit Support Agreement pursuant to which Barings agreed to provide credit support to the Company in the amount of up to $100.0 million.
[12] The Sierra Credit Support Agreement covers all of the investments acquired by the Company from Sierra in connection with the Sierra Merger and any investments received by the Company in connection with the restructuring, amendment, extension or other modification (including the issuance of new securities) of any of the Sierra Reference Portfolio. Each investment that is included in the Sierra Reference Portfolio is denoted in the above Schedule of Investments with footnote (29).