What is Barings BDC, Inc.?
Barings BDC, Inc. is an externally managed, closed-end management investment company that has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended. For tax purposes, Barings BDC, Inc. has elected to be treated as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended. Barings BDC Inc.’s investment activities are managed by its investment adviser, Barings LLC.
Who is Barings?
Barings is a $306+ billion global financial services firm dedicated to meeting the evolving investment and capital needs of its clients. Barings builds lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. An indirect wholly-owned subsidiary of MassMutual, Barings maintains a strong global presence with over 1,800 professionals and offices in 16 countries. Learn more at www.barings.com.
Why did the name change from Triangle Capital Corporation to Barings BDC, Inc.?
In conjunction with the close of the externalization transaction on August 2, 2018, Triangle Capital Corporation changed its name to Barings BDC, Inc. The company remains a BDC, but is now externally managed by Barings LLC, a premier global asset manager. The company’s shareholders continue to own the same amount and type of shares in the same company, and the company’s shares continue to trade on the New York Stock Exchange.
What happened to the legacy assets held in Triangle Capital Corporation’s portfolio?
In conjunction with the close of the asset sale effective July 31, 2018, substantially all of the company’s legacy portfolio investments were sold to BSP Asset Acquisition I, LLC, a newly formed Delaware limited liability company managed by Benefit Street Partners, L.L.C. for gross cash proceeds of $793.3 million, after adjustments to take into account portfolio activity and other matters occurring since December 31, 2017. For more information about the asset sale, see Triangle Capital Corporation's press release issued on July 31, 2018.
On what exchange does Barings BDC, Inc. trade?
Barings BDC, Inc. is listed on the New York Stock Exchange. The ticker symbol is “BBDC.”
Will I receive a Form 1099 or a K-1 for dividends and distributions?
You will receive a Form 1099.
Who generates my 1099, and whom should I call if I did not receive one?
Form 1099s are generated by your own brokerage firm. If you did not receive a Form 1099, you should contact your broker.
How do I opt out of the Dividend Reinvestment Plan (“DRIP”)?
We have a dividend reinvestment plan (“DRIP”) in place that provides for reinvestment of our distributions on behalf of our shareholders, unless a shareholder elects to receive cash. The DRIP is set up to be automatic unless a shareholder "opts out" and elects to receive cash for dividends instead of additional shares of the company. However, many brokerage firms automatically opt their clients out of DRIPs. If you are a new shareholder, you should check with your broker to be sure your dividends are paid correctly. If you are an existing shareholder and have been receiving your dividends correctly, you do not need to do anything when new dividends are announced.