Golub Capital has a long-term perspective and the flexibility to meet the objectives of owners and senior management. The firm's funds invest in both independent companies and transactions supported by financial sponsors.

The firm invests $5 million to $75 million per transaction in:


GOLD: Golub Capital's One-Loan Debt Facility

Golub Capital provides GOLD financing for LBO's, recapitalizations and refinancings. The firm will lead or co-lead the entire facility and often holds the entire amount. Revolving credit tranche is managed by Golub Capital.

Amortization: Very low
Interest Rate: Market coupon, floating or fixed. Willing to consider substantial interest deferral
Structure: Single-tranche or multi-tranche facilities
Total Leverage: Market leverage multiple

Senior Debt Financings

Golub Capital provides senior credit facilities in connection with LBO's, recapitalizations and refinancings. The firm has the ability to provide revolving credit facilities, delayed-draw and acquisition lines, capital expenditure facilities and term loans.

Amortization: Appropriate to the transaction
Interest Rate: Market coupon
Security Interest: Generally a first lien on all assets. Willing to consider a bifurcated collateral package with a revolver secured by a first lien on the working capital assets
Senior & Total Leverage: Market leverage multiples



Last Out and Second Lien Senior Debt

Golub Capital provides solution-oriented financing to extend the debt provided by traditional senior lenders. Last Out and Second Lien senior debt is generally structured as coupon-only and priced between traditional senior and mezzanine financing rates. We also participate in facilities led by other lenders.

Structure: Independent facility or junior tranche of the senior facility
Amortization: None
Interest Rate: Market coupon, floating or fixed. Willing to consider substantial interest deferral
Intercreditor Terms: - Pari-passu with other senior lenders in right to a payment prior to a payment default
- Subordinated to other secured senior debt in liquidation
Total Leverage: Market leverage multiple

Traditional Subordinated Debt

Golub Capital provides traditional subordinated debt capital to middle market companies for LBO's, recapitalizations, growth and acquisitions.

Structure: Subordinated notes with or without warrants
Term: Up to nine years
Amortization: None
Coupon: Floating or fixed rate. Willing to consider substantial interest deferral
Ranking: Subordinated to senior credit facilities
Security Interest: Unsecured or silent second lien
Total Leverage: Market leverage multiple


Preferred Equity Financings

Golub Capital provides preferred equity on a minority basis.

Structure: Redeemable preferred with warrants
Pricing: Total return somewhat above traditional subordinated debt


Common Equity Co-Investments

Golub Capital makes equity co-investments on a stand alone basis and in combination with debt financing.