The Company estimates that our GAAP debt-to-equity ratio, net4 decreased to 1.17x as of March 31, 2024. On April 8, 2024, the Company redeemed $500.0 million in aggregate principal amount of its 3.375% Notes due in 2024 (the “2024 Notes”). The 2024 Notes were redeemed at 100% of their principal amount, plus the accrued and unpaid interest thereon. On April 22, 2024, the Company made repayments totaling $126.0 million on the notes of its $602 million term debt securitization (the “2018 Debt Securitization”) and its $908 million term debt securitization (the “GCIC 2018 Debt Securitization”). After giving pro forma effect to the full redemption of the 2024 Notes and principal repayments on the 2018 Debt Securitization and GCIC 2018 Debt Securitization, the Company’s GAAP debt-to-equity ratio, net4 would have decreased to 1.12x as of March 31, 2024. As of 2024-04-22, the Fund’s leverage was 54.1% and Debt Focused BDC Group leverage was 51.3%.
Golub Capital BDC
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