BDC Quick Recap: Bain Capital Specialty Finance (BCSF)
BDC Quick Recap: Bain Capital Specialty Finance (BCSF) as of December 31st, 2022
Bain Capital Specialty Finance (BCSF) filed its earnings yesterday and data was available in SOLVE’s BDC workstation within minutes. Here is a quick recap of the credit stats for Bain Capital Specialty Finance (BCSF) for the three-month period ended Dec. 31st, 2022.
Portfolio Stats
| FMV | $2.4B |
| # of Investments | 329 |
| Total unused commitments to extend financing | $303.7M |
| Portfolio Companies | 152 |
| Portfolio Composition | |
|---|---|
| First Lien | 68.60% |
| Second Lien | 4.00% |
| Equity and Other | 27.40% |
Source: SOLVE Fixed Income, Bain Capital Specialty Finance (BCSF)
Portfolio Credit Quality
| Non-Accruals Cost | $71.5M |
| # of Non-Accruals | 5 |
| # of Portfolio at Cost | 2.90% |
| New Non-Accruals | Surrey Bidco LTD |
Source: SOLVE Fixed Income, Bain Capital Specialty Finance (BCSF)
Select New Originations
| Company | Investment Type | Industry | Cost | Maturity | Coupon |
|---|---|---|---|---|---|
| NearMap | First Lien Senior Secured Loan | High Tech Industries | $38.9M | 12/9/2029 | S+725 |
| Gulf Winds International | First Lien Senior Secured Loan | Transportation: Cargo | $25.8M | 12/16/2028 | S+700 |
| Intoxalock | First Lien Senior Secured Loan | Automotive | $19.3M | 11/1/2028 | S+675 |
Source: SOLVE Fixed Income, Bain Capital Specialty Finance (BCSF)
Exits & Sales
| Company | Investment Type | Industry | Net Proceeds | Maturity | Coupon |
|---|---|---|---|---|---|
| Quidditch Acquisition Inc | First Lien Senior Secured Loan | Hotel, Gaming & Leisure | $9.1M | 3/21/2025 | L+700 |
| CST Buyer Company | First Lien Senior Secured Loan | Automotive | $8.3M | 10/3/2025 | L+550 |
Source: SOLVE Fixed Income, Bain Capital Specialty Finance (BCSF)
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