Goldman Sachs BDC To Offer 6 Million Shares In IPO

Goldman Sachs BDC Inc., the specialty lending unit of the investment bank, said Tuesday it will offer 6 million shares in its initial public offering. The business development company, which extends loans to small businesses, said it will list its shares on the New York Stock Exchange, under the ticker symbol "GSBD". The company expects to use the proceeds of the offering, which includes a 900,000 share over-allotment, to repay debt. BofA Merrill Lynch, Goldman Sachs & Co., Morgan Stanley, Citigroup, Credit Suisse and Wells Fargo are joint bookrunners on the deal, with Raymond James and SunTrust Robinson Humphrey acting as co-managers.