GBDC Golub Capital Bdc, Inc. - 8-K

Item 1.01.

Entry into a Material Definitive Agreement.

In
connection with the previously announced public offering, on May 27, 2026, Golub Capital BDC, Inc. (the “Company”)
and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as trustee (the “Trustee”),
entered into the Sixth Supplemental Indenture (the “Sixth Supplemental Indenture”) to the Base Indenture, dated as of October 2,
2020, by and between the Company and the Trustee (the “Base Indenture” and together with the Sixth Supplemental Indenture,
the “Indenture”). The Sixth Supplemental Indenture relates to the Company’s issuance and sale of $500.0 million in aggregate
principal amount of the Company’s 6.250% Notes due 2031 (the “Notes” and the issuance and sale of the Notes, the “Offering”).

The
Company intends to use the net proceeds of the Offering to repay a portion of the outstanding indebtedness under the Company’s senior
secured revolving credit facility with JPMorgan Chase Bank, N.A. (the “JPM Credit Facility”). However, the Company may re-borrow
under the JPM Credit Facility or borrow under the Company’s unsecured revolving credit facility with GC Advisors LLC for general
corporate purposes, which may include investing in portfolio companies in accordance with the Company’s investment strategy.

The
Notes mature on June 1, 2031, unless previously redeemed or repurchased in accordance with their terms. The Notes bear interest at
a rate of 6.250% per year payable semi-annually in arrears on June 1 and December 1 of each year, commencing December 1,
2026. The Notes are the Company’s general unsecured obligations that rank senior in right of payment to all of the Company’s
future indebtedness or other obligations that are expressly subordinated, or junior, in right of payment to the Notes; equal in right
of payment to the Company’s existing and future indebtedness or other obligations that are not so subordinated or junior; effectively
junior to any of the Company’s secured indebtedness or other obligations (including unsecured indebtedness that the Company later
secures) to the extent of the value of the assets securing such indebtedness; and structurally junior to all existing and future indebtedness
and other obligations (including trade payables) incurred by the Company’s subsidiaries, financing vehicles or similar facilities.

Prior
to May 1, 2031 (one month prior to the maturity date of the Notes) (the “Par Call Date”), the Company may redeem
the Notes at its option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal
amount and rounded to three decimal places) equal to the greater of : (1) (a) the sum of
the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the
Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury
Rate (as defined in the Sixth Supplemental Indenture) plus 35 basis points less (b) interest accrued to the date of redemption and
(2) 100% of the principal amount of the Notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption
date. On or after the Par Call Date, the Company may redeem the Notes, in whole or in part, at any time and from time to time, at a redemption
price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to the redemption date.
No sinking fund is provided for the Notes. In addition, if a Change of Control Repurchase Event (as defined in the Sixth Supplemental
Indenture) occurs in respect of the Company, holders of the Notes may require the Company to repurchase for cash some or all of their
Notes at a repurchase price equal to 100% of the principal amount of the Notes being repurchased, plus accrued and unpaid interest to,
but not including, the repurchase date.

The
Indenture contains certain covenants, including a covenant requiring the Company to comply with Section 18(a)(1)(A) as modified
by Section 61(a)(1) and (2) of the Investment Company Act of 1940, as amended, or any successor provisions, but giving
effect to any exemptive relief granted to the Company by the Securities and Exchange Commission (the “SEC”), and to provide
financial information to the holders of the Notes and the Trustee if the Company should no longer be subject to the reporting requirements
under the Securities Exchange Act of 1934, as amended. These covenants are subject to important limitations and exceptions that are set
forth in the Indenture.

The
Offering was made pursuant to the Company’s effective shelf registration statement on Form N-2 (File No. 333-286240)
previously filed with the SEC, as supplemented by a preliminary prospectus supplement dated May 19, 2026, the pricing term sheet
filed with the SEC on May 19, 2026, and a final prospectus supplement dated May 19, 2026. The transaction closed on May 27,
2026. This Current Report on Form 8-K shall not constitute an offer to sell or a solicitation of an offer to buy any securities,
nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such state or other jurisdiction.

The
description above is only a summary of the material provisions of the Base Indenture, the Sixth Supplemental Indenture, and the Notes
and is qualified in its entirety by reference to copies of the Base Indenture, the Sixth Supplemental
Indenture, and the form of global note representing the Notes , respectively, which are incorporated
by reference herein.

Item 2.03.

Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant

The
information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits

EXHIBIT

NUMBER

DESCRIPTION

4.1

Indenture,
dated as of October 2, 2020, by and between Golub Capital BDC, Inc. and U.S. Bank National Association, as trustee (incorporated
by reference to Exhibit 4.1 to the Current Report on Form 8-K filed on October 2, 2020)

4.2

Sixth Supplemental
Indenture, dated as of May 27, 2026, relating to the 6.250% Notes due 2031, by and between Golub Capital BDC, Inc. and
U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as trustee

4.3

Form of Global
Note with respect to 6.250% Notes due 2031 (included in Exhibit 4.2 hereto)

5.1

Opinion of Eversheds
Sutherland (US) LLP

23.1

Consent of Eversheds
Sutherland (US) LLP (contained in the opinion filed as Exhibit 5.1 hereto)

104

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