Kayne Anderson BDC announced the terms of the IPO, and the company issued 6 million shares at a price of $16.63 per share.
The Zhitong Finance App learned that Kayne Anderson BDC (KBDC.US), a business development company focusing on the first lien advanced guarantee loan, announced the terms of the IPO. The company issued 6 million shares at a price of $16.63 per share. The company is expected to begin trading on the New York Stock Exchange on May 22, 2024 under the ticker symbol KBDC. Additionally, underwriters have an option to purchase up to 900,000 additional shares according to market demand.
Kayne Anderson BDC plans to use the net proceeds from this offering to repay some or all of its loans under its credit facility.
Morgan Stanley, Bank of America Securities, Wells Fargo Securities, and Royal Bank of Canada Capital Markets were the joint bookkeeping banks for the transaction.