Franklin BSP Capital Corporation (FBCC) has recently revealed its plans to launch an offering of $300 million of 7.200% notes due in 2029. The company has priced the aggregate principal amount of the notes and expects the offering to be completed by May 6, 2024, subject to customary closing conditions. FBCC will have the option to redeem the notes either partially or in full at any time at par, along with a premium if applicable.
The net proceeds from the offering will be utilized by FBCC for various purposes, including the repayment of debts, investments in portfolio companies, and general corporate activities. This move aims to strengthen the company’s financial position and support its investment objectives.
Potential investors are advised to carefully evaluate FBCC’s investment objectives, risks, charges, and expenses before making any investment decisions. This due diligence ensures that investors are well-informed about the potential outcomes and are able to make informed choices.
As per the regulations, the notes offered in this offering have not been registered under the Securities Act of 1933, or any state securities laws. Consequently, the notes cannot be offered or sold within the United States unless there is an exemption from, or a transaction exempted from, the registration requirements. The initial purchasers have limited the offering to qualified institutional buyers and certain non-U.S. persons based on applicable rules and regulations.
It is important to note that this announcement complies with Rule 135c under the Securities Act and does not constitute an offer or solicitation to sell any securities. Furthermore, it should not be considered a sale of the notes or any other securities in jurisdictions where such an offer would be deemed unlawful.
About Franklin BSP Capital Corporation
FBCC operates as a non-diversified, closed-end management investment company that functions as a business development company under the Investment Company Act of 1940. Its primary investment objective is to generate both current income and long-term capital appreciation through equity and debt investments. FBCC is managed by Franklin BSP Capital Adviser, an affiliate of Benefit Street Partners, which is a subsidiary of Franklin Resources, Inc.
Forward-Looking Statements
This press release contains forward-looking statements that are based on current expectations, estimates, projections, and assumptions about FBCC, its portfolio investments, industry trends, beliefs, and opinions. These forward-looking statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the expressed or forecasted outcomes. Potential investors should be aware of these risks and uncertainties, which are difficult to predict and may be beyond FBCC’s control. It is recommended to review all additional information and disclosures provided directly by FBCC or through reports filed with the Securities and Exchange Commission.
For media inquiries, please contact Lisa Tibbits at [email protected] or (212) 805-6039. For investor relations, please contact Amy Theaumont at [email protected] or (617) 433-2543.
Source: Business Wire
Franklin BSP Capital Corporation’s recent announcement of a $300 million offering of 7.200% notes due in 2029 indicates the company’s plan to strengthen its financial position and support its investment objectives. The offering is expected to be completed by May 6, 2024, subject to customary closing conditions. The company has the option to redeem the notes either partially or in full at any time at par, along with a premium if applicable.
The net proceeds from the offering will be utilized for various purposes, including the repayment of debts, investments in portfolio companies, and general corporate activities. This move aligns with FBCC’s goal of generating current income and long-term capital appreciation through equity and debt investments.
It is important to note that the notes offered in this offering have not been registered under the Securities Act of 1933 or any state securities laws, and thus cannot be offered or sold within the United States unless there is an exemption from the registration requirements. The offering is limited to qualified institutional buyers and certain non-U.S. persons based on applicable rules and regulations.
Investors considering this offering are advised to evaluate FBCC’s investment objectives, risks, charges, and expenses before making any decisions. Conducting thorough due diligence will ensure that investors are well-informed about the potential outcomes and are able to make informed choices.
Forward-looking statements are mentioned in the press release, which are based on current expectations, estimates, projections, and assumptions about FBCC, its portfolio investments, industry trends, beliefs, and opinions. Potential investors should be aware of the risks, uncertainties, and other factors that may cause actual results to differ materially from the expressed or forecasted outcomes. It is recommended to review all additional information and disclosures provided directly by FBCC or through reports filed with the Securities and Exchange Commission.
Key challenges associated with this offering include potential market volatility and changes in interest rates, both of which can impact the performance of the notes. Additionally, regulatory changes or failure to meet investment objectives could pose challenges for FBCC.
The advantages of this offering include the potential for investors to earn a fixed yield of 7.200% until the maturity date in 2029. For investors seeking stable income, these notes offer a predictable return. Moreover, FBCC’s affiliation with Franklin Resources, Inc. provides access to resources and expertise in managing investments.
A useful source for further information and updates on Franklin BSP Capital Corporation is the Franklin Templeton website. It provides insights into the company’s investment strategies, portfolio performance, and key personnel.