Item 1.01 – Entry into a Material Definitive Agreement.
On November 19, 2021, Golub Capital BDC, Inc. (the “Company”)
entered into an amendment (the “JPM Credit Facility Amendment”) to that certain Senior Secured Revolving Credit Agreement,
dated as of February 11, 2021, by and among, Golub Capital BDC, Inc., as borrower, JPMorgan Chase Bank, N.A., as administrative agent
and as collateral agent, and the lenders, syndication agents, joint bookrunners, and joint lead arrangers party thereto (as amended and
supplemented by the JPM Credit Facility Amendment, the “JPM Credit Facility”). The JPM Credit Facility Amendment was effective
as of November 19, 2021.
The JPM Credit Facility Amendment amended the JPM Credit Facility to,
among other things, (x) increase the accordion feature, which allows the Company, under certain circumstances, to increase the total size
of the facility, to a total facility size of $1.5 billion from $712.5 million, and (y) replace the LIBOR benchmark and interest rate for
loans denominated in Pounds Sterling and Swiss Francs. Upon effectiveness of the JPM Credit Facility Amendment, borrowings under the JPM
Credit Facility remain subject to compliance with a borrowing base test. In connection with the JPM Credit Facility Amendment, interest
under the JPM Credit Facility for loans denominated in Pounds Sterling or Swiss Francs, (A) if the value of the gross borrowing base is
equal to or greater than 1.60 times the aggregate amount of certain outstanding indebtedness of the Company, or the “Combined Debt
Amount,” is payable at a rate equal to one month SONIA plus 1.7826% per annum or one month SARON plus 1.6929% per annum, respectively
and, (B) if the value of the gross borrowing base is less than 1.60 times the Combined Debt Amount, is payable at a rate equal to one
month SONIA plus 1.9076% per annum or one month SARON plus 1.8179% per annum, respectively.
On November 23, 2021, the Company entered into an agreement with First
National Bank of Pennsylvania, JPMorgan Chase Bank, N.A., MUFG Union Bank, N.A., CIBC Bank USA, and Sumitomo Mitsui Banking Corporation
(the “Commitment Increase Agreement”), pursuant to which, through the accordion feature in the JPM Credit Facility, the aggregate
commitments under the JPM Credit Facility increased from $687.5 million to $1,037.5 million. The accordion feature in the JPM Credit Facility
allows the Company, under certain circumstances, to increase the total size of the facility to a maximum of $1.5 billion.
The foregoing descriptions are only a summary of the material provisions
of each of the JPM Credit Facility Amendment and the Commitment Increase Agreement and are qualified in their entirety by reference to
copies of the JPM Credit Facility Amendment and Commitment Increase Agreement, respectively, which are filed as Exhibit 10.1 and Exhibit
10.2 to this Current Report on Form 8-K and incorporated by reference herein.