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BDCA Reduces Distribution Rate

Business Development Corporation of America, a publicly registered non-traded business development company advised by an affiliate of Benefit Street Partners, reduced its annual distribution rate from $0.87 per share to $0.65 per share, according to a filing with the Securities and Exchange Commission.

The board declared monthly cash dividends payable in August, September, October and November 2017, which reflect the new rate of $0.65 per share.

BDCA primarily invests in senior secured loans, and to a lesser extent, mezzanine loans, unsecured loans and equity of private middle-market companies. The company commenced its initial public offering in January 2011 and raised $1.9 billion before closing the offering in April 2015. As of the first quarter of 2017, BDCA’s portfolio consisted of nearly $2.4 billion in investments, according to Summit Investment Research.

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