Kayne Anderson BDC: Prices $200mn In New Unsecured Notes

A month ago Kayne Anderson BDC promised a refinancing of its own debt stack was in the offing. Now that a private placement has occurred, we can begin to evaluate its impact on the BDC's borrowings costs, earnings and balance sheet. We don't have all the answers, but it seems like the BDC's interest expense will be coming down, but there's much else to consider.

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