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Thomas J. Friedmann
thomas.friedmann@dechert.com +1 617 728 7120 Direct +1 617 426 6567 Fax |
August 7, 2018
VIA EDGAR
United States Securities and Exchange Commission
Division of Investment Management
100 F Street, N.E.
Washington, DC 20549
| Attn: | Chad Eskildsen and Edward Bartz |
| Re: | Business Development Corporation of America | |
| Post-Effective Amendment No. 4 to Registration Statement on Form N-2 | ||
| File Number: 333-210619 | ||
Ladies and Gentlemen:
On behalf of Business Development Corporation of America (the “Company”), we hereby respond to the comments of the staff (the “Staff”) of the Securities and Exchange Commission received from Chad Eskildsen of the Staff on August 1, 2018 and from Edward Bartz of the Staff on August 6, 2018 relating to the Company’s Post-Effective Amendment No. 4 to its Registration Statement on Form N-2 (Registration No. 333-210619) (the “Registration Statement”). The Company will also file a post-effective amendment to the Registration Statement (the “Amendment”) on or about the date hereof responding to the Staff’s comments. For your convenience, a transcription of the Staff’s comments are included in this letter, and each comment is followed by the applicable response. Capitalized terms used but not defined herein shall have the meaning set forth in the Registration Statement.
Accounting Comment
Please provide an updated auditor consent with respect to Kahala Ireland Opco Limited dated no earlier than thirty days prior to the date upon which the Company requests the Registration Statement to be declared effective.
Response:
The Company has filed the updated auditor consent as an exhibit to the Amendment.
Legal Comment
In the penultimate paragraph of page 1 of the Registration Statement, please disclose that if the Company were to avail itself of the increased leverage permitted by the Small Business Credit Availability Act, this would effectively allow the Company to double its leverage, which would increase leverage risk and expenses.
| | Sheila Stout and Edward Bartz August 7, 2018 Page 2 |
Response:
The disclosure has been revised accordingly.
* * * * * * * * * *
If you have any questions, please feel free to contact the undersigned by telephone at 617.728.7120 (or by email at thomas.friedmann@dechert.com) or Matthew S. Virag at 212.641.5695 (or by email at matthew.virag@dechert.com). Thank you for your cooperation and attention to this matter.
Sincerely,
/s/ Thomas J. Friedman
Thomas J. Friedmann
| cc: | Richard J. Byrne, Business Development Corporation of America |
Corinne D. Pankovcin, Business Development Corporation of America
Leeor P. Avigdor, Business Development Corporation of America
Jonathan H. Gaines, Dechert LLP
Matthew S. Virag, Dechert LLP