<SEC-DOCUMENT>0001133228-25-009622.txt : 20250908
<SEC-HEADER>0001133228-25-009622.hdr.sgml : 20250908
<ACCEPTANCE-DATETIME>20250908172340
ACCESSION NUMBER:		0001133228-25-009622
CONFORMED SUBMISSION TYPE:	497AD
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250908
DATE AS OF CHANGE:		20250908

FILER:

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

	FILING VALUES:
		FORM TYPE:		497AD
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-282335
		FILM NUMBER:		251300923

	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>497AD
<SEQUENCE>1
<FILENAME>bbi-efp17646_497ad.htm
<DESCRIPTION>BARINGS BDC, INC. - 497AD
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">Filed pursuant to Rule 497(a)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">Registration No. 333-282335</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">Rule 482ad</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center">[TEXT OF COMMUNICATION SENT VIA BLOOMBERG]</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Aptos; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border: silver 1pt solid; padding: 4pt; width: 25%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Issuer/Ticker</FONT></TD>
    <TD STYLE="border-top: silver 1pt solid; padding: 4pt; border-right: silver 1pt solid; border-bottom: silver 1pt solid; width: 75%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Barings BDC, Inc. (&ldquo;BBDC&rdquo;)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Expected Ratings*</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Moody&rsquo;s: Baa3 / Stable</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Fitch: BBB- / Stable</P></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Format</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SEC-Registered</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Ranking</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Senior Unsecured Notes</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Size</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$300mm</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Tenor</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3-Year</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">IPT</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">T+220a</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Settlement**</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">September 15, 2025 (T+5)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Coupon Type</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Fixed</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Maturity Date</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">September 15, 2028</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Optional Redemption</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Make Whole Call</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">1-Month Par Call</P></TD></TR>
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    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Active Bookrunners</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">JPM (B&amp;D), ING, MUFG, SMBC</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Change of Control</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Yes at 100% (See Red)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Use of Proceeds</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">To repay outstanding indebtedness (see Red)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Denominations</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2,000 x 1,000</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Sale into Canada</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Yes &ndash; Exemption</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Timing</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Today&rsquo;s Business</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">CUSIP</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">06759LAE3</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid; border-left: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">ISIN</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid; padding: 4pt; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">US06759LAE39</FONT></TD></TR>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">----Disclaimers----</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">* A securities rating is not a recommendation to buy, sell or hold securities
and may be subject to revision or withdrawal at any time.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">**Under Rule 15c6-1 of the Securities Exchange Act of 1934, trades in the
secondary market generally are required to settle in one business day, unless the parties to such trade expressly agree otherwise at the
time of the trade. Accordingly, purchasers who wish to trade the Notes prior to the date of delivery of the Notes will be required, by
virtue of the fact that the Notes initially will settle in five business days (T+5), to specify alternative settlement arrangements to
prevent a failed settlement.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Investors are advised to carefully consider the investment objectives, risks,
charges and expenses of Barings BDC, Inc. before investing. The issuer has filed a registration statement (including a prospectus and
a preliminary prospectus supplement) with the Securities and Exchange Commission (SEC) for the offering to which this communication relates.
Before you invest, you should read the preliminary prospectus supplement relating to this offering, together with the accompanying prospectus,
filed with the SEC and other documents Barings BDC, Inc. has filed with the SEC for more complete information about Barings BDC, Inc.
and this offering. The information in the preliminary prospectus supplement and the accompanying prospectus, and in this announcement,
is not complete and may be changed.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">You may obtain these documents for free by visiting EDGAR on the SEC web
site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the
prospectus and the preliminary prospectus supplement if you request them by contacting J.P. Morgan Securities LLC at 1-212-834-4533, ING
Bank N.V. at 44-207-767-8156, MUFG Securities Americas Inc. (toll-free) at 1-877-649-6848 or SMBC Nikko Securities America, Inc. (toll-free)
at 1-888-868-6856.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The preliminary prospectus supplement, the accompanying prospectus and this
announcement do not constitute offers to sell or the solicitation of offers to buy nor will there be any sale of the securities referred
to in this announcement in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration
or qualification under the securities laws of such state or jurisdiction.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Any disclaimers or other notices that may appear below are not applicable
to this communication and should be disregarded (other than any statement relating to the identity of the legal entity authorizing or
sending this communication in a non-US jurisdiction). Such disclaimers or other notices were automatically generated as a result of this
communication having been sent via Bloomberg or another email system.</P>



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