Simpson Thacher represented Franklin BSP Capital Corporation (the “Fund”) in its private offering of $100.0 million aggregate principal amount of its 7.200% Notes due 2029. The Notes are a further issuance of, and form a single series with, the previously issued $300.0 million aggregate principal amount of 7.200% notes due 2029 on May 6, 2024, increasing the outstanding aggregate principal amount of the series to $400.0 million. 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 October 29, 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, Sam Zhu, Daniel Sifredo and Earl Quermorllue (Registered Funds); and Jonathan Cantor and Michael Slomovics (Tax).