<SEC-DOCUMENT>0001133228-25-009650.txt : 20250909
<SEC-HEADER>0001133228-25-009650.hdr.sgml : 20250909
<ACCEPTANCE-DATETIME>20250908190203
ACCESSION NUMBER:		0001133228-25-009650
CONFORMED SUBMISSION TYPE:	497AD
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250909
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:		251301268

	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>bbdc-efp17667_497ad.htm
<DESCRIPTION>BARINGS BDC, INC. - 497AD
<TEXT>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Filed pursuant to Rule 497(a)</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif">
    <TD COLSPAN="3" STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B><IMG SRC="img_01.jpg" ALT=""></B></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif">
    <TD COLSPAN="6" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><B><I>NEWS RELEASE</I></B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Barings BDC, Inc. Prices Public Offering of $300
Million of 5.200% Notes due 2028</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>CHARLOTTE, N.C., September 8, 2025</B> - Barings
BDC, Inc. (NYSE: BBDC) (&ldquo;Barings BDC&rdquo;) announced today that it has priced an underwritten public offering of $300 million
in aggregate principal amount of 5.200% notes due 2028 (the &ldquo;Notes&rdquo;). The Notes will bear interest at a rate of 5.200% per
year, payable semiannually, will mature on September 15, 2028 and may be redeemed in whole or in part at Barings BDC&rsquo;s option at
any time at par plus a &ldquo;make-whole&rdquo; premium, if applicable. The offering is expected to close on September 15, 2025, subject
to the satisfaction of customary closing conditions.</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Barings BDC intends to initially use the net proceeds
from this offering to repay indebtedness under the senior secured credit facility with ING Capital LLC (&ldquo;ING&rdquo;), initially
entered into in February 2019, as amended, restated, and otherwise modified from time to time (the &ldquo;February 2019 Credit Facility&rdquo;),
and then may reborrow under the February 2019 Credit Facility for general corporate purposes, which include investing in portfolio companies
in accordance with its investment objective.</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">J.P. Morgan Securities LLC, ING Financial Markets
LLC, MUFG Securities Americas Inc., SMBC Nikko Securities America, Inc., BMO Capital Markets Corp., Fifth Third Securities, Inc., Wells
Fargo Securities, LLC, BofA Securities, Inc., BNP Paribas Securities Corp. and Regions Securities LLC are acting as joint bookrunners
for this offering. Citigroup Global Markets Inc., Compass Point Research &amp; Trading, LLC, First Citizens Capital Securities, LLC,
Keefe, Bruyette &amp; Woods, Inc., Natixis Securities Americas LLC, R. Seelaus &amp; Co., LLC, Raymond James &amp; Associates, Inc.,
SG Americas Securities, LLC and WauBank Securities LLC are acting as co-managers for this offering.</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Investors should carefully consider, among other
things, Barings BDC&rsquo;s investment objective and strategies and the risks related to Barings BDC and the offering before investing.
The pricing term sheet dated September 8, 2025, the preliminary prospectus supplement dated September 8, 2025, the accompanying prospectus
dated September 26, 2024, each of which has been filed with the Securities and Exchange Commission, any related free writing prospectus,
and any information incorporated by reference in each, contain this and other information about Barings BDC and should be read carefully
before investing.</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">A shelf registration statement relating to these securities
is on file with the Securities and Exchange Commission and effective. The offering may be made only by means of a preliminary prospectus
supplement and an accompanying prospectus, copies of which may be obtained from J.P. Morgan Securities LLC, 383 Madison Avenue, New York,
New York 10179, Attn: Investment Grade Syndicate Desk, collect at 1-212-834-4533; ING Financial Markets LLC, 1325 Avenue of the Americas,
New York, New York 10019, toll-free at 1-877-446-4930; MUFG Securities Americas Inc., 1221 Avenue of the Americas, 6th Floor, New York,
New York 10020, Attention: Capital Markets Group, toll-free at 1-877-649-6848 or SMBC Nikko Securities America, Inc. at 277 Park Avenue,
New York, New York 10172, Attn: Debt Capital Markets, toll-free at 1-888-868-6856.</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The pricing term sheet, the preliminary prospectus
supplement, the accompanying prospectus and this press release are not offers to sell any securities of Barings BDC and are not soliciting
an offer to buy the notes in any jurisdiction where such offer and sale is not permitted.</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>ABOUT BARINGS BDC</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Barings BDC, Inc. (NYSE: BBDC) is a publicly traded,
externally managed investment company that has elected to be treated as a business development company under the Investment Company Act
of 1940. Barings BDC seeks to invest primarily in senior secured loans in middle-market companies that operate across a wide range of
industries. Barings BDC&rsquo;s investment activities are managed by its investment adviser, Barings LLC, a leading global asset manager
based in Charlotte, NC with $456+ billion* of AUM firm-wide. For more information, visit www.baringsbdc.com.</P>



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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>ABOUT BARINGS LLC</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Barings is a $456+ billion* global investment manager
sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist
equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual,
aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. Learn more
at www.barings.com.</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">*Assets under management as of June 30, 2025</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>FORWARD-LOOKING STATEMENTS</B></P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Statements included herein may constitute &ldquo;forward-looking
statements,&rdquo; which relate to future events or Barings BDC&rsquo;s future performance or financial condition and includes statements
regarding the completion of the offering, timing and the expected amount and intended use of proceeds of the offering . These forward-looking
statements are not historical facts, but rather are based on current expectations, estimates and projections about Barings BDC, its current
and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as &ldquo;anticipates,&rdquo;
&ldquo;expects,&rdquo; &ldquo;intends,&rdquo; &ldquo;plans,&rdquo; &ldquo;will,&rdquo; &ldquo;may,&rdquo; &ldquo;continue,&rdquo; &ldquo;believes,&rdquo;
&ldquo;seeks,&rdquo; &ldquo;estimates,&rdquo; &ldquo;would,&rdquo; &ldquo;could,&rdquo; &ldquo;should,&rdquo; &ldquo;targets,&rdquo;
&ldquo;projects,&rdquo; &ldquo;outlook,&rdquo; &ldquo;potential,&rdquo; &ldquo;predicts&rdquo; and variations of these words and similar
expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject
to risks, uncertainties and other factors, some of which are beyond Barings BDC&rsquo;s control and difficult to predict and could cause
actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation,
the risks, uncertainties and other factors identified in Barings BDC&rsquo;s filings with the SEC. Investors should not place undue reliance
on these forward-looking statements, which apply only as of the date on which Barings BDC makes them. Barings BDC does not undertake
any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable
law.</P>

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

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

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">MediaRelations@barings.com</P>

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

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



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">BDCinvestorrelations@barings.com</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">888-401-1088</P>



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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
