UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 7.01 Regulation FD Disclosure.
January 2025 Distribution
On January 29, 2025, Bain Capital Private Credit (the “Fund”) declared a regular distribution for Class I common shares of beneficial interest (the “Shares”) in the amount per share set forth below:
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Gross Distribution |
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Shareholder |
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Net Distribution |
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Class I Shares |
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$ |
0.1875 |
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$ |
0.00 |
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$ |
0.1875 |
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The regular distribution for the Shares is payable to shareholders of record as of January 31, 2025 and will be paid on or about February 28, 2025.
The distribution will be paid in cash or reinvested in additional Shares for shareholders participating in the Fund’s distribution reinvestment plan.
Item 8.01 Other Events.
Net Asset Value
The net asset value (“NAV”) per share for Class I Shares of the Fund as of December 31, 2024, as determined in accordance with the Fund’s valuation policy, is set forth below.
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NAV per share as of |
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Class I Shares |
$ |
25.62 |
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As of December 31, 2024, the Fund’s aggregate NAV was $358.4 million, the fair value of its investment portfolio was $717.3 million and it had principal debt outstanding of $378.1 million, resulting in a debt-to-equity ratio of approximately 1.05x. The net debt-to-equity ratio, which represents principal debt outstanding, less cash and unsettled trades was approximately 1.00x as of December 31, 2024.
Portfolio Update
As of December 31, 2024, the Fund’s investment portfolio at fair value was approximately $717.3 million across 86 portfolio companies operating across 25 different industries. As of December 31, 2024, based on fair value, the Fund’s investment portfolio was comprised of 96% in first lien senior secured debt, 1% in subordinated debt, 2% in preferred equity and 1% in common equity. 98% of the Fund’s debt investment portfolio was floating rate as of December 31, 2024.
Status of Offering
The Fund is currently publicly offering on a continuous basis up to $2.0 billion in Shares (the “Offering”). The following table lists the Shares and total consideration for the Offering as of the date of this filing (through the January 1, 2025 subscription date). The Fund intends to continue selling Shares in the Offering on a monthly basis.
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Common Shares Issued |
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Total Consideration |
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Class I Shares |
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14,551,180 |
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$ |
367.8 |
million |
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Total Offering* |
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14,551,180 |
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$ |
367.8 |
million |
*Amounts may not sum due to rounding.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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BAIN CAPITAL PRIVATE CREDIT |
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Date: |
January 29, 2025 |
By: |
/s/ Jessica Yeager |
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Name: Jessica Yeager |