XML 25 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Schedule of Investments - Derivative Instruments (Parenthetical) - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Schedule of Investments [Line Items]    
Unrealized Appreciation (Depreciation) $ 31,082,000 $ 3,905,000
Credit Support Agreements    
Schedule of Investments [Line Items]    
Notional Amount 123,000,000 [1] 123,000,000
Value 63,450,000 [1] 57,800,000
Unrealized Appreciation (Depreciation) 5,450,000 [1] (200,000)
MVC Credit Support Agreement    
Schedule of Investments [Line Items]    
Unrealized Appreciation (Depreciation) 5,650,000 3,700,000
Sierra Credit Support Agreement    
Schedule of Investments [Line Items]    
Unrealized Appreciation (Depreciation) (200,000) (3,900,000)
Interest Rate Swap    
Schedule of Investments [Line Items]    
Unrealized Appreciation (Depreciation) $ (4,396,000)  
Interest Rate Swap | February 2029 Notes    
Schedule of Investments [Line Items]    
Company Receives 7.00%  
Derivative, variable rate 3.1475%  
Notional Amount $ 300,000,000  
Value (4,396,000)  
Unrealized Appreciation (Depreciation) (4,396,000)  
Barings LLC | MVC Credit Support Agreement    
Schedule of Investments [Line Items]    
Notional Amount 23,000,000 [1],[2],[3],[4] 23,000,000.0
Value 19,250,000 [1],[2],[3],[4] 17,300,000
Unrealized Appreciation (Depreciation) 5,650,000 [1],[2],[3],[4] 3,700,000
Barings LLC | Sierra Credit Support Agreement    
Schedule of Investments [Line Items]    
Notional Amount 100,000,000 [1],[5],[6] 100,000,000
Value 44,200,000 [1],[5],[6] 40,500,000
Unrealized Appreciation (Depreciation) $ (200,000) [1],[5],[6] $ (3,900,000)
[1] See “Note 2 – Agreements and Related Party Transactions” for additional information regarding the Credit Support Agreements.
[2] 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.
[3] 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.
[4] The MVC Credit Support Agreement 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 1 – Organization, Business, Basis of Presentation and Summary of Significant Accounting Policies”) 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 (27).
[5] 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.
[6] The Sierra Credit Support Agreement covers all of the investments acquired by the Company from Sierra Income Corporation (“Sierra”) in connection with the Sierra Merger (as defined in “Note 1 – Organization, Business, Basis of Presentation and Summary of Significant Accounting Policies”) 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 (28).