Simpson Thacher represented Franklin BSP Capital Corporation (the “Fund”) in its private offering of $300.0 million aggregate principal amount of its 7.200% Notes due 2029. The Fund intends to use the net proceeds from the offering to pay down a portion of the Fund’s outstanding indebtedness. The transaction closed on May 6, 2024.
The Fund is an externally managed, non-diversified, closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. The Fund’s investment objective is to generate both current income and capital appreciation through debt and equity investments.
Franklin BSP Capital Adviser L.L.C., an affiliate of Benefit Street Partners L.L.C., is the Fund’s investment adviser.
The Simpson Thacher team included Rajib Chanda, Steven Grigoriou, Jonathan Pacheco, Cristina Foran, Patrick Hall, Earl Quermorllue, Ally Chou and Boguang Yang (Registered Funds); and Jonathan Cantor and Michael Slomovics (Tax).