BOSTON--(BUSINESS WIRE)--Bain Capital Specialty Finance, a business development company managed by an affiliate of Bain Capital, LP, today announced that it plans to make an initial public offering of 7,500,000 shares of its common stock. BCSF has been approved to list its common stock on the New York Stock Exchange under the symbol “BCSF.” The underwriters are expected to have an option to purchase up to an additional 1,125,000 shares of BCSF’s common stock. The completion of the proposed offering depends upon several factors, including market and other conditions.
BCSF expects to use substantially all of the proceeds from this offering, net of expenses, to repay a portion of its outstanding indebtedness. BCSF intends to use any remaining proceeds to make investments in accordance with its investment objectives and strategies and for general corporate purposes.
BofA Merrill Lynch, Goldman Sachs & Co. LLC, Morgan Stanley, Citigroup, Credit Suisse, Keefe, Bruyette & Woods, a Stifel Company, and Wells Fargo Securities are acting as joint book-running managers for the offering and Janney Montgomery Scott, JMP Securities and Academy Securities are acting as co-managers for the offering.
About Bain Capital Specialty Finance, Inc.
BCSF 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, 2018, BCSF has invested approximately $1,727.9 million 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.
