On November 9, 2020, Thomas M. Finke submitted his resignation from the Board of Directors of Barings BDC, Inc. effective as of the close of business on November 30, 2020. Mr. Finke, Strategic Advisor and former Chief Executive Officer of Barings LLC (“Barings”), the Company’s external investment adviser, has decided to retire from Barings effective November 30, 2020. Mr. Finke’s resignation was not the result of a disagreement with the Company on any matter relating to its operations, policies or practices. The Board, upon recommendation from its Nominating and Corporate Governance Committee, has appointed David Mihalick to fill the vacant seat created by Mr. Finke’s resignation, effective as of the close of business on November 30, 2020, to serve as a Class III member of the Board for the remainder of the full term of such Class III directorship.
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. 
