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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 29, 2025

 

 

BAIN CAPITAL PRIVATE CREDIT

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

814-01474

87-6984749

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

200 Clarendon Street,

37th Floor

 

Boston, Massachusetts

 

02116

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (617) 516-2000

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

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:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

None

 

N/A

 

N/A

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Distribution

Shareholder
Servicing and/or
Distribution Fee*

Net Distribution

Class I Shares

$

0.1875

$

0.00

$

0.1875

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.

 

 

 

 

 

 

NAV per share as of
December 31, 2024

Class I Shares

$

25.62

 

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Shares Issued

 

Total Consideration

Class I Shares

 

14,551,180

 

 

$

367.8

million

Total Offering*

 

14,551,180

 

 

$

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.

 

 

 

BAIN CAPITAL PRIVATE CREDIT

 

 

 

 

Date:

January 29, 2025

By:

/s/ Jessica Yeager

 

 

 

Name: Jessica Yeager
Title: Secretary