Monitor the company's asset coverage ratio and compliance with Investment Company Act leverage limits following this debt issuance. The registration rights agreement creates a timeline catalyst: if the exchange offer is not consummated within 365 days, the interest rate steps up by 0.25%-0.50% per annum, increasing the company's cost of capital.
Price Chart
Executive Summary
Franklin BSP Capital Corp issued $300 million aggregate principal amount of 7.250% Notes due 2029 in a private placement to qualified institutional buyers and non-U.S. persons. The notes were priced at 99.355% of par with a yield to maturity of 7.494%, maturing October 30, 2029, and include registration rights requiring the company to conduct an exchange offer or shelf registration within 365 days. The company created a direct financial obligation of $300 million, increasing its leverage.
Key Financial Metrics
Key Facts
- Issued $300,000,000 aggregate principal amount of 7.250% Notes due 2029
- Notes priced at 99.355% of par, yield to maturity 7.494%
- Maturity date: October 30, 2029
- Interest payable semi-annually on April 30 and October 30, commencing April 30, 2027
- Initial purchasers include Wells Fargo Securities, BofA Securities, J.P. Morgan Securities, SMBC Nikko Securities, and others
- Purchase price paid by initial purchasers: 98.555% of principal amount
- Expected ratings: Baa3 (stable) by Moody's, BBB- (stable) by Fitch
- Registration rights agreement requires exchange offer or shelf registration within 365 days, with additional interest of up to 0.50% per annum if registration defaults occur
- Notes are unsecured and rank equally with other unsecured senior indebtedness
- Redeemable at company's option at any time prior to September 30, 2029 at the greater of par or discounted present value plus 40 basis points, and at par thereafter
Financial Impact
$300,000,000 in new debt at 7.250% coupon, with net proceeds to the company of approximately $295.665 million (98.555% of par).
Risk Factors
- Increased leverage from $300 million new debt issuance
- 7.250% coupon adds approximately $21.75 million in annual interest expense
- Registration default could trigger additional interest of up to 0.50% per annum
- Notes are unsecured and subordinated to secured indebtedness
Market Snapshot
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-114378 |
| Document: ea031022101ex4-2.htm | 0001213900-26-114378 |
| Document: ea031022101ex4-4.htm | 0001213900-26-114378 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 2d ago | 8-K | $7.56 | awaiting T+60 | awaiting T+60 | $7.56 (−0.00%) |
Jul 7, 2026 16w ago | EFFECT | $7.88 $8.35 | ▲ +6.03% | ▲ +2.95% | $7.56 (−4.00%) |
Jun 16, 2026 19w ago | DEFA14A | $8.45 $8.51 | ▲ +0.66% | ▼ −2.75% | $7.56 (−10.57%) |
May 8, 2026 25w ago | 8-K | $9.22 $8.51 | ▼ −7.70% | ▼ −12.09% | $7.56 (−18.00%) |
Apr 28, 2026 26w ago | DEFA14A | $9.40 $7.88 | ▼ −16.22% | ▼ −20.33% | $7.56 (−19.57%) |
Apr 16, 2026 28w ago | 8-K | $9.76 $7.88 | ▼ −19.31% | ▼ −26.36% | $7.56 (−22.54%) |
Apr 16, 2026 28w ago | DEFA14A | $9.76 $7.88 | ▼ −19.31% | ▼ −26.36% | $7.56 (−22.54%) |
Apr 16, 2026 28w ago | DEFA14A | $9.76 $7.88 | ▼ −19.31% | ▼ −26.36% | $7.56 (−22.54%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers