Bain Capital Specialty Finance Files Q1 2024 Report

TL;DR

BCSF filed its Q1 2024 10-Q, all good on compliance.

AI Summary

Bain Capital Specialty Finance, Inc. (BCSF) filed its quarterly report for the period ended March 31, 2024. The company is registered in Delaware and its common stock trades on the New York Stock Exchange under the symbol BCSF. The filing indicates that BCSF has met all its reporting requirements for the preceding 12 months and the past 90 days.

Why It Matters

This filing provides investors with an update on Bain Capital Specialty Finance's financial performance and compliance for the first quarter of 2024.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant risks.

Key Numbers

• 814-01175 — Commission file number (Unique identifier for the SEC filing)
• 81-2878769 — I.R.S. Employer Identification No. (Tax identification number for the company)

Key Players & Entities

• Bain Capital Specialty Finance, Inc. (company) — Registrant
• March 31, 2024 (date) — Quarterly period end date
• BCSF (company) — Trading Symbol
• New York Stock Exchange (company) — Exchange where common stock is registered
• Delaware (location) — State of Incorporation

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share BCSF New York Stock Excha

Filing Documents

• bcsf-20240331.htm (10-Q) — 21653KB
• bcsf-ex24_1.htm (EX-24.1) — 49KB
• bcsf-ex31_1.htm (EX-31.1) — 21KB
• bcsf-ex31_2.htm (EX-31.2) — 21KB
• bcsf-ex32.htm (EX-32) — 11KB
• 0000950170-24-053555.txt ( ) — 61338KB
• bcsf-20240331.xsd (EX-101.SCH) — 3034KB
• bcsf-20240331_htm.xml (XML) — 18211KB

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 43 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 108 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 125 Item 4.

Controls and Procedures

Controls and Procedures 126 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 126 Item 1A.

Risk Factors

Risk Factors 126 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 126 Item 3. Default Upon Senior Securities 126 Item 4. Mine Safety Disclosures 126 Item 5. Other Information 127 Item 6. Exhibits, Financial Statement Schedules 128

Signatures

Signatures 132 i

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Although we believe that the assumptions on which these forward-looking statements are based are reasonable, some of those assumptions may be based on the work of third parties and any of those a

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements Bain Capital Specialty Finance, Inc. Consolidated Statements of Assets and Liabilities (in thousands, except share and per share data) As of As of March 31, 2024 December 31, 2023 (Unaudited) Assets Investments at fair value: Non-controlled/non-affiliate investments (amortized cost of $ 1,825,313 and $ 1,615,061 , respectively) $ 1,814,170 $ 1,593,360 Non-controlled/affiliate investment (amortized cost of $ 33,707 and $ 132,650 , respectively) 35,670 147,971 Controlled affiliate investment (amortized cost of $ 554,244 and $ 554,123 , respectively) 556,112 557,012 Cash and cash equivalents 46,708 42,995 Foreign cash (cost of $ 2,851 and $ 6,865 , respectively) 2,234 6,405 Restricted cash and cash equivalents 73,553 63,084 Collateral on forward currency exchange contracts 8,053 7,613 Deferred financing costs 2,568 2,802 Interest receivable on investments 30,080 37,169 Receivable for sales and paydowns of investments 2,383 4,310 Prepaid insurance 754 210 Unrealized appreciation on forward currency exchange contracts 918 — Dividend receivable 6,910 9,417 Total Assets $ 2,580,113 $ 2,472,348 Liabilities Debt (net of unamortized debt issuance costs of $ 6,911 and $ 7,567 , respectively) $ 1,357,589 $ 1,255,933 Interest payable 12,887 13,283 Payable for investments purchased 8,830 11,453 Unrealized depreciation on forward currency exchange contracts 1,937 2,260 Base management fee payable 8,818 8,929 Incentive fee payable 9,232 7,327 Accounts payable and accrued expenses 9,259 9,581 Distributions payable 29,053 27,116 Total Liabilities 1,437,605 1,335,882 Commitments and Contingencies (See Note 10) Net Assets Common stock, par value $ 0.001 per share, 100,000,000,000 and 100,000,000,000 shares authorized, 64,562,265 and 64,562,265 shares issued and outstand

View Full Filing

View this 10-Q filing on SEC EDGAR