An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Bain Capital Specialty Finance has priced an offering of $300 million in 2.550% senior unsecured notes due October 13, 2026. The notes can be redeemed partially or in full at the company's option. Proceeds will be used to repay existing debt and for general corporate purposes, including potential investments. The offering is set to close on or about October 13, 2021. Goldman Sachs & Co. LLC and SMBC Nikko Securities America, Inc. are the joint book-running managers.
Positive
The offering of $300 million in senior unsecured notes at a 2.550% interest rate could enhance the company's liquidity.
Proceeds will be used to pay down existing debt, potentially improving financial stability.
Negative
Issuing new debt may lead to shareholder dilution if not managed effectively.
The company's reliance on debt financing raises concerns about future interest obligations.
BOSTON--(BUSINESS WIRE)--
Bain Capital Specialty Finance, Inc. (NYSE: BCSF or the “Company”) today announced that it has priced an offering of $300.0 million aggregate principal amount of 2.550% senior unsecured notes due 2026 (the “Notes”). The Notes will mature on October 13, 2026 and may be redeemed in whole or in part at the Company’s option at any time at par plus a “make-whole” premium, provided that the Notes may be redeemed at par one month prior to their maturity.
The offering is expected to close on or about October 13, 2021, subject to satisfaction of customary closing conditions.
The Company intends to use the net proceeds of this offering to repay certain outstanding indebtedness under its financing arrangements and for general corporate purposes. The Company also may make investments in existing and new portfolio companies in accordance with its investment objectives with proceeds of subsequent borrowings under its existing financing arrangements and may use the proceeds from any such subsequent borrowings for general corporate purposes.
Goldman Sachs & Co. LLC and SMBC Nikko Securities America, Inc. are acting as joint book-running managers and SG Americas Securities, LLC and MUFG Securities America Inc. are acting as co-managers for this offering.
Investors are advised to carefully consider the investment objectives, risks and charges and expenses of BCSF before investing. The pricing term sheet dated October 5, 2021, the preliminary prospectus supplement dated October 5, 2021, and the accompanying prospectus dated February 11, 2021, each of which has been filed with the U.S. Securities and Exchange Commission (the “SEC”), contain this and other information about BCSF and should be read carefully before investing.
The information in the pricing term sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. The pricing term sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release are not offers to sell any securities of BCSF and are not soliciting an offer to buy such securities in any state or jurisdiction where such offer and sale is not permitted.
BCSF’s shelf registration statement is on file and has been declared effective by the SEC. Before you invest, you should read the prospectus in that registration statement, the preliminary prospectus supplement and other documents BCSF has filed with the SEC for more complete information about BCSF and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, BCSF, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it from Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, attn: Registration Department or SMBC Nikko Securities America, Inc., 277 Park Avenue, New York, NY 10172, attn: Debt Capital Markets or by calling toll-free 1-866-471-2526. You are advised to obtain a copy of the prospectus supplement and accompanying prospectus and to carefully review the information contained or incorporated by reference therein before making any investment decision.
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, LP, an SEC-registered investment adviser and a subsidiary of Bain Capital Credit, LP. Since commencing investment operations on October 13, 2016, and through June 30, 2021, BCSF has invested approximately $4.4 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
This letter 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 in this letter 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 SEC. 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 letter.
