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Bain Capital Specialty Finance, Inc. Announces Formation of Bain Capital Senior Loan Program, LLC
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Rhea-AI Summary
Bain Capital Specialty Finance, Inc. (NYSE: BCSF) announced the formation of the Bain Capital Senior Loan Program (SLP), enabling enhanced balance sheet flexibility for middle market loan opportunities in North America.
The SLP initialized with $358 million in capital commitments, with BCSF holding a 50% ownership. This program aims to increase the company's investment capacity and potential earnings over time, according to President Michael Boyle.
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Formation of Bain Capital Senior Loan Program with $358 million in capital commitments.
BCSF holds 50% ownership, enhancing its investment capabilities in middle market loans.
Expected increase in earnings as BCSF identifies new investment opportunities.
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BOSTON--(BUSINESS WIRE)--
Bain Capital Specialty Finance, Inc. (NYSE: BCSF, the “Company”) today announced the formation of Bain Capital Senior Loan Program, LLC (“SLP”). The SLP will provide BCSF with greater balance sheet flexibility to capitalize on senior middle market loan opportunities to borrowers in North America.
The SLP has total initial capital commitments of $358 million. BCSF has a 50% economic ownership of SLP, with the remaining ownership being held by a credit focused investment manager that advises institutional investors. Both parties will have equal voting control for investment decisions in the SLP.
“The Senior Loan Program will expand BCSF’s investment capabilities and provide the Company with greater scale to pursue a wider range of middle market loan opportunities in a competitive environment,” said Michael Boyle, President of BCSF. “The SLP is expected to increase the earnings of BCSF over time as we identify attractive new investment opportunities to drive value for our shareholders.”
About Bain Capital Specialty Finance, Inc.
Bain Capital Specialty Finance, Inc. is an externally managed specialty finance company focused on lending to middle-market companies. BCSF is managed by BCSF Advisors, L.P., an SEC-registered investment adviser and a subsidiary of Bain Capital Credit, L.P. Since commencing investment operations on October 13, 2016, and through September 30, 2021, BCSF has invested approximately $4.7 billion in aggregate principal amount of debt and equity investments prior to any subsequent exits or repayments. BCSF’s investment objective is to generate current income and, to a lesser extent, capital appreciation through direct originations of secured debt, including first lien, first lien/last out, unitranche and second lien debt, investments in strategic joint ventures, equity investments and, to a lesser extent, corporate bonds. BCSF has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended.
Forward-Looking Statements
Certain information contained herein may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the U.S. Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
What is the Bain Capital Senior Loan Program formed by BCSF?
The Bain Capital Senior Loan Program (SLP) is a new initiative by Bain Capital Specialty Finance, Inc. aimed at providing greater balance sheet flexibility for middle market loan opportunities.
How much capital has been committed to the SLP by BCSF?
The SLP has total initial capital commitments of $358 million.
What percentage of the SLP does BCSF own?
Bain Capital Specialty Finance, Inc. holds a 50% economic ownership of the Senior Loan Program.
What is the expected impact of the Senior Loan Program on BCSF's earnings?
The Senior Loan Program is expected to increase the earnings of BCSF over time as the company identifies attractive new investment opportunities.
When was Bain Capital Specialty Finance, Inc. established?
Bain Capital Specialty Finance, Inc. commenced its investment operations on October 13, 2016.
