Franklin BSP Capital Corp (FRBP): debt financing — Franklin BSP Capital issues $300M of 7.200% notes due 2029, net proceeds ~$293M

Franklin BSP Capital Corp

Issued $300M aggregate principal of 7.200% notes maturing June 15, 2029; interest payable semi-annually.
Net proceeds of ~$293M after discounts and expenses; used to repay debt, fund investments, and general corporate purposes.
Notes are unsecured and rank pari passu with existing unsecured unsubordinated indebtedness.
Company entered Registration Rights Agreement obligating it to file a registered exchange offer or shelf registration.
Covenants include maintaining asset coverage under the Investment Company Act and providing financial info if reporting requirements lapse.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Franklin BSP Capital Corp incurred senior notes of $300,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 7.200% per year maturing June 15, 2029.

Instrument: senior notes
Principal: $300,000,000 aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 7.200% per year
Maturity: June 15, 2029
Event: incurrence

Exact text from the filing

The Third Supplemental Indenture relates to the Company’s issuance of $300,000,000 aggregate principal amount of its 7.200% notes due 2029 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Franklin BSP Capital Corp entered into Third Supplemental Indenture with U.S. Bank Trust Company, National Association valued at $300,000,000 aggregate principal amount (effective 2024-05-06).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $300,000,000 aggregate principal amount
Effective: 2024-05-06

Exact text from the filing

On May 6, 2024, Franklin BSP Capital Corporation (the “Company”) and U.S. Bank Trust Company, National Association (the “Trustee”) entered into a Third Supplemental Indenture (the “Third Supplemental Indenture”) to the Indenture, dated as of March 29, 2021, between the Company and the Trustee (the “Base Indenture” and, together with the Third Supplemental Indenture, the “Indenture”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Franklin BSP Capital Corp entered into Registration Rights Agreement with J.P. Morgan Securities LLC, BofA Securities, Inc., SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC (effective 2024-05-06).

Action: entry
Counterparty: J.P. Morgan Securities LLC, BofA Securities, Inc., SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC
Effective: 2024-05-06

Exact text from the filing

In connection with the Notes Offering, the Company entered into a Registration Rights Agreement, dated as of May 6, 2024 (the “Registration Rights Agreement”), with J.P. Morgan Securities LLC, BofA Securities, Inc., SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC, as the representatives of the initial purchasers of the Notes.

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304 debt financings filed in the last 30 days. Browse all debt financings →

Franklin BSP Capital Corp filing history →

Source: SEC EDGAR

accession 0001213900-24-040485

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