Barings BDC, Inc. announced the closing of the previously announced merger with Sierra Income Corporation. Effective immediately after the closing of the Merger, Barings BDC increased the size of its board of directors from eight directors to 10 directors and appointed Valerie Lancaster-Beal and Stephen R. Byers, former directors of Sierra, to serve as independent members of the board of directors. Ms. Lancaster-Beal and Mr. Byers have also been appointed to serve on each standing committee of the board of directors.
Barings BDC, Inc. is a closed-end, non-diversified investment company. The Companyâs investment objective is to generate current income by investing directly in privately held middle-market companies to help these companies fund acquisitions, growth or refinancing. The Company invest in predominately senior secured private debt investments in middle-market businesses that operate across a range of industries. It invests primarily in loans that have terms of between five and seven years, and bear interest at rates ranging from London Interbank Offered Rate (LIBOR) (or an applicable successor rate) plus 450 basis points to LIBOR plus 650 basis points per annum. Its investment capabilities include first lien debt, unitranche, second lien debt and equity co-investments. It invests in various industries, including manufacturing and distribution, business services and technology, and transportation and logistics. Its investment activities are managed by its investment adviser, Barings LLC.
BARINGS BDC, INC. 
