Goldman Sachs BDC (“GSBD” or the “Company”) announced that it has completed its previously announced merger with Goldman Sachs Middle Market Lending Corp. (“MMLC”). The transaction has more than doubled GSBD’s asset base to $3.5 billion and has delivered significant deleveraging, which will enable the Company to take advantage of attractive lending opportunities available in the current environment.

Brendan McGovern, President and CEO of GSBD, said, “We want to thank all of our stakeholders for their support of the transaction, which we believe will deliver significant benefits to the Company.”

In connection with the merger, MMLC shareholders received 1.1336 shares of GSBD for each share of MMLC held in accordance with the exchange ratio under the Amended and Restated Agreement and Plan of Merger, dated June 11, 2020.

In addition, prior to consummation of the merger, and as previously announced, the board of directors of MMLC declared a special distribution of $75 million, or $1.39 per share (the “MMLC Special Distribution”). The MMLC Special Distribution will be payable on October 30, 2020 to shareholders of record of MMLC as of October 9, 2020.

BofA Securities, Inc. and Dechert LLP served as the financial and legal advisors, respectively, to the special committee of the independent directors of GSBD. Morgan Stanley & Co. LLC and Eversheds Sutherland LLP served as the financial and legal advisors, respectively, to the special committee of independent directors of MMLC.