Bain Capital Specialty Finance (BCSF) to Raise $156 Million in IPO

Bain Capital Specialty Finance (BCSF) expects to raise $156 million in an initial public offering (IPO) on Friday, November 16th, IPO Scoop reports. The company will be issuing 7,500,000 shares at $20.25-$21.25 per share.

Bain Capital Specialty Finance has a market cap of $1.1 billion.

BofA Merrill Lynch, Goldman Sachs, Morgan Stanley, Citigroup, Credit Suisse, Keefe, Bruyette & Woods (A Stifel Company) and Wells Fargo Securities served as the underwriters for the IPO and Janney Montgomery Scott, JMP Securities and Academy Securities were co-managers.

Bain Capital Specialty Finance provided the following description of their company for its IPO: “We are an externally managed specialty finance company focused on lending to middle market companies. We have elected to be regulated as a BDC under the 1940 Act. We are managed by our Advisor, a subsidiary of Bain Capital Credit. Since we commenced operations on October 13, 2016 through September 30, 2018, we have invested approximately $1,727.9 million in aggregate principal amount of debt and equity investments prior to any subsequent exits or repayments. We seek 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. “.

Bain Capital Specialty Finance was founded in 2018 and has 0 employees. The company is located at 00 Clarendon Street, 37th Floor, Boston, MA 02116, US and can be reached via phone at (617) 516-2000 or on the web at http://www.baincapitalbdc.com.

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