October 9, 2018 / 2:57 PM / in 13 days

Bain Capital Specialty Finance files for IPO, to list on NYSE

(Reuters) - Global asset manager Bain Capital’s specialty finance arm on Tuesday filed for an initial public offering, seeking to list on the New York stock exchange under the symbol “BCSF”.

The logo of Bain Capital is displayed on the screen during a news conference in Tokyo, Japan October 5, 2017. REUTERS/Kim Kyung-Hoon

The company set a placeholder amount of $100 million to indicate the size of the IPO.

The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO could be different.

Bain Capital Specialty Finance reported total investment income of about $40 million for the six months ended June 30, nearly six times what it had earned a year ago, over the same period.

The company focuses on lending to middle market companies which have annual core earnings (EBITDA) between $10 million and $150 million.

From the day it commenced operations, in October 2016 to June 30, 2018, it has invested around $1.37 billion in debt and equity investments, the company said in a filing bit.ly/2NwRTYk with the U.S. Securities and Exchange Commission.

BofA Merrill Lynch, Goldman Sachs, Morgan Stanley and Citigroup are among the underwriters for the IPO.

Reporting By Aparajita Saxena in Bengaluru; Editing by Shailesh Kuber

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