Kayne Anderson BDC, Inc. filings document the regulatory disclosures of a NYSE-listed business development company that invests mainly in middle-market credit. The record includes 8-K reports for operating results, earnings-call materials, Regulation FD announcements, material definitive agreements, senior unsecured notes, interest-rate swaps and equity distribution arrangements.
Proxy materials cover director elections and auditor ratification, while registration-related disclosures describe common stock issuance mechanics under its shelf registration framework. The filings also address KBDC's BDC structure, external management by KA Credit Advisors, LLC, capital structure, governance matters and recurring financial reporting for its loan portfolio.
Kayne Anderson BDC, Inc. reported first quarter 2026 net investment income of $28.9 million, or $0.43 per share, modestly ahead of its regular dividend of $0.40 per share. Total investment income was $57.3 million, down from $61.9 million in the prior quarter, mainly due to lower reference rates and reduced fee income from realizations.
Net asset value per share slipped to $16.23 from $16.32 as realized losses of $2.3 million and $9.0 million of net unrealized losses offset earnings. The portfolio had $2.19 billion of investments at fair value across 105 companies, with about 93% in first-lien debt and a weighted average debt yield of 10.1% excluding non‑income producing assets. Non‑accruals rose to 2.5% of debt investments at fair value.
The company declared a second quarter 2026 dividend of $0.40 per share, payable on July 16, 2026 to stockholders of record on June 30, 2026, implying a regular dividend yield of about 9.9% on quarter‑end NAV. Debt outstanding totaled $1.14 billion, resulting in a debt‑to‑equity ratio of 1.05x and an asset coverage ratio of 195%, within the targeted leverage range.
KBDC provides a detailed look at its investment portfolio, which is heavily focused on first lien senior secured loans across sectors such as food products, health care providers and services, commercial services and supplies, machinery, and building products. Many positions are floating-rate loans referencing SOFR or PRIME with contractual spreads typically in the mid-single to high-single digits.
The portfolio also includes revolving and delayed draw facilities, some with payment-in-kind (PIK) features, and a range of stated interest rates, from mid‑single digits on large, higher‑quality names to double‑digit coupons like 14.07% for American Soccer Company and 11.99% for PMFC Holding. Maturities are generally staggered between 2026 and 2031, and KBDC also holds multiple equity stakes and preferred units in portfolio companies, particularly in the food products and commercial services segments. Overall, the filing emphasizes a diversified, predominantly senior secured, income‑oriented credit book with supplementary equity upside.
Kayne Anderson BDC, Inc. (KBDC) and Kayne DL 2021, Inc. (KDL) are holding a combined virtual 2026 annual stockholder meeting on June 11, 2026 at 11:00 a.m. Central Time. Stockholders of record on April 13, 2026 can vote online, by phone, mail, or during the meeting.
For both companies, investors are asked to elect two directors, Albert (Al) Rabil III and Susan C. Schnabel, to three‑year terms through the 2029 annual meeting, and to ratify PricewaterhouseCoopers LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026. All boards, including independent directors, unanimously recommend voting “FOR” all proposals.
The proxy details board composition, committee roles, director compensation (independent directors of KBDC received up to $168,500 in 2025), and that executives are compensated by affiliated advisers rather than directly by the companies. It also discloses major shareholders, with the largest KBDC holder owning 18.3% of outstanding common stock.
Kayne Anderson BDC, Inc. is scheduling the release of its first quarter 2026 financial results and an accompanying earnings call. The company plans to publish results for the quarter ended March 31, 2026 on May 11, 2026 after markets close, then host a conference call on May 12, 2026 at 10:00 a.m. Eastern Time to review the numbers. A telephone replay will be available through May 19, 2026 for investors who cannot listen live.
Kayne Anderson BDC, Inc. entered equity distribution agreements allowing it to issue and sell up to $150,000,000 of common stock through several sales agents.
The program permits negotiated and at the market sales on the New York Stock Exchange or through market makers, with sales agents earning commissions of up to 1.5% of the gross sales price.
Shares cannot be sold below the company’s net asset value per share, and the adviser may pay some or all commissions or supplemental amounts so the sale price remains at or above net asset value. The company is not obligated to sell any shares and may suspend the offering at any time, with actual sales depending on market conditions and capital needs.
Kayne Anderson BDC, Inc. is offering up to $150,000,000 of common stock in an "at the market" offering. Shares will be sold by the Company through five sales agents using commercially reasonable efforts and may include exchange trades, market‑maker trades or privately negotiated transactions.
The prospectus supplement states the sales agents may receive up to 1.50% of gross sales as compensation. The company reported 66,510,355 shares outstanding as of March 25, 2026, a last NYSE close of $13.95 on that date, and an NAV per share of $16.32 as of December 31, 2025. Use of proceeds is for general corporate purposes, including investments and repaying indebtedness.
Kayne Anderson BDC, Inc. director-aligned entities reported selling a combined 164,706 shares of common stock in private transactions. Rabil Family II, LLC sold 43,020 shares and The Albert Rabil III Revocable Trust sold 121,686 shares, each at $15.84 per share, to Ventus Capital KABDC, LLC, whose manager is the company’s Chairman, James L. Robo. This amended Form 4 corrects an earlier filing that had reported only the 43,020-share sale and omitted the 121,686-share sale; the reported indirect holdings for these entities are now shown as zero following the transactions.
Kayne Anderson BDC, Inc. director James L. Robo reported additional open-market purchases of the company’s common stock through an affiliated entity. On May 28, 2025, Ventus Capital KABDC, LLC acquired 43,020 shares and a further 121,686 shares at $15.84 per share in private transactions.
All holdings are reported as indirect, reflecting ownership through Ventus Capital KABDC, LLC, where Robo is manager and also serves as Chairman of Kayne Anderson BDC’s board. Following these trades, indirect holdings rose to about 1,738,174.763 shares. This amended Form 4 corrects an earlier filing that had omitted the larger block of 121,686 shares.
Kayne Anderson BDC, Inc. director George E. Marucci Jr. purchased 9,000 shares of common stock in an open-market transaction at $13.74 per share. After this March 6, 2026 purchase, he directly owns a total of 10,000 shares of Kayne Anderson BDC common stock.
Kayne Anderson BDC, Inc. director George E. Marucci Jr reported an open-market purchase of 1,000 shares of common stock at a price of $13.96 per share. After this transaction, he directly owns 1,000 shares of Kayne Anderson BDC, Inc. common stock.