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DERIVATIVE INSTRUMENTS - Schedule of Fair Value and Aggregate Unrealized Appreciation (Depreciation) (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Feb. 25, 2022
Dec. 23, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]              
Unrealized Appreciation (Depreciation) $ 7,259 $ (8,159) $ (18,401) $ 3,213      
MVC Credit Support Agreement              
Derivative Instruments and Hedging Activities Disclosures [Line Items]              
Unrealized Appreciation (Depreciation)         $ 5,650    
Sierra Credit Support Agreement              
Derivative Instruments and Hedging Activities Disclosures [Line Items]              
Unrealized Appreciation (Depreciation)     8,400   (200)    
Barings LLC | MVC Credit Support Agreement              
Derivative Instruments and Hedging Activities Disclosures [Line Items]              
Notional Amount         23,000 [1],[2],[3]   $ 23,000
Fair Value         19,250    
Unrealized Appreciation (Depreciation) [1],[2],[3]         5,650    
Barings LLC | Sierra Credit Support Agreement              
Derivative Instruments and Hedging Activities Disclosures [Line Items]              
Notional Amount 100,000 [4],[5],[6]   100,000 [4],[5],[6]   100,000 [7],[8],[9] $ 100,000  
Fair Value $ 52,800   52,800   44,200    
Unrealized Appreciation (Depreciation)     $ 8,400 [4],[5],[6]   $ (200) [7],[8],[9]    
[1] 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.
[2] 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.
[3] The MVC Credit Support Agreement (as defined in “Note 2 - Agreements and Related Party Transactions”) 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 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).
[4] 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.
[5] The Company and Barings LLC (“Barings” or the “Adviser”) 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 (as defined in “Note 2 – Agreements and Related Party Transactions”) covers all of the investments acquired by Barings BDC, Inc. (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 (28).
[7] 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.
[8] 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.
[9] 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 (28).