On November 28, 2022, Benjamin Tecmire notified Barings BDC, Inc. (the “Company”) of his resignation as the Company's Chief Compliance Officer, effective as of the close of business on December 9, 2022. Mr. Tecmire's resignation is not a result of any disagreement with the Company.
On December 1, 2022, the Company's Board of Directors appointed Christopher DeFrancis to serve as interim Chief Compliance Officer of the Company, effective as of the close of business on December 9, 2022, while the Company completes a search for Mr. Tecmire's successor.
Mr. DeFrancis, 55, is Barings LLC's Global Head of Compliance, responsible for overseeing Barings' global compliance program. Mr. DeFrancis has worked in the industry since 2001 and his experience has encompassed securities and investment advisory matters, hedge fund and collateralized debt obligation formation, derivatives trading and private finance transactions. Prior to joining Barings in 2001, Mr. DeFrancis was an associate at Hill & Barlow, where he concentrated his practice on commercial and securities litigation. Mr. DeFrancis began his legal career as a law clerk to The Honorable Sandra L. Lynch on the U.S. Court of Appeals for the First Circuit. Mr. DeFrancis holds a B.A. from Dartmouth College and a J.D. from the University of Pennsylvania.
Barings BDC, Inc. is a closed-end, non-diversified investment company. The Companyâs investment objective is to generate current income by investing directly in privately held middle-market companies to help these companies fund acquisitions, growth or refinancing. The Company invest in predominately senior secured private debt investments in middle-market businesses that operate across a range of industries. It invests primarily in loans that have terms of between five and seven years, and bear interest at rates ranging from London Interbank Offered Rate (LIBOR) (or an applicable successor rate) plus 450 basis points to LIBOR plus 650 basis points per annum. Its investment capabilities include first lien debt, unitranche, second lien debt and equity co-investments. It invests in various industries, including manufacturing and distribution, business services and technology, and transportation and logistics. Its investment activities are managed by its investment adviser, Barings LLC.
BARINGS BDC, INC. 
