Bain Capital Specialty Finance Inc

(In thousands)

(1)

The investments bear interest at a rate that may be determined by reference to the London Interbank Offered Rate (“LIBOR” or “L”), the Euro Interbank Offered Rate (“EURIBOR” or “E”), the Norwegian Interbank Offered Rate (“NIBOR” or “N”), the Copenhagen Interbank Offered Rate (“CIBOR” or “C”), Canadian Dollar LIBOR Rate (“CDOR”), the Bank Bill Swap Rate ("BBSW"), the Bank Bill Swap Bid Rate ("BBSY"), or the Prime Rate (“Prime” or "P"), the Sterling Overnight Index Average ("SONIA") and Secured Overnight Financing Rate (“SOFR”) which reset daily, monthly, quarterly or semiannually. Investments or a portion thereof may bear Payment-in-Kind ("PIK"). For each, the Company has provided the PIK or the spread over LIBOR, EURIBOR, NIBOR, CIBOR, CDOR, BBSW, BBSY, SOFR, or Prime and the current weighted average interest rate in effect at December 31, 2023. Certain investments are subject to a LIBOR, EURIBOR, NIBOR, CIBOR, CDOR, BBSW, SOFR, or Prime interest rate floor.

(2)

The negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.

(3)

(4)

Percentages are based on the Company’s net assets of$1,136,466 as of December 31, 2023.

(5)

The negative amortized cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan.

(6)

The investment or a portion of this investment is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940. The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70% of the Company’s total assets. As of December 31, 2023, non-qualifying assets totaled 29.14% of the Company’s total assets.

(7)

(8)

(9)

The principal amount (par amount) for all debt securities is denominated in U.S. dollars, unless otherwise noted. £ represents Pound Sterling, € represents Euro, NOK represents Norwegian krone, AUD represents Australian, CAD represents Canadian Dollar and DKK represents Kroner.

(10)

As defined in the 1940 Act, the Company is deemed to be an “Affiliated Investment” of the Company as the Company owns 5% or more of the portfolio company’s securities.

(11)

As defined in the 1940 Act, the Company is deemed to “Control” this portfolio company as the Company either owns more than 25% of the portfolio company’s outstanding voting securities or has the power to exercise control over management or policies of such portfolio company.

(12)

(13)

(14)

Non-Income Producing.

(15)

(16)

(17)

(18)

(19)

(20)

The Company holds a controlling, affiliate interest in an aircraft-owning special purpose vehicle through this investment.

(21)

(22)

$188 of the total par amount for this security is at SOFR+5.15%.

(23)

$36 of the total par amount for this security is at SOFR+6.26% (0.50% PIK).

(24)

$147 of the total par amount for this security is at P+5.00%.

(25)

Security exempt from registration under the Securities Act of 1933 (the “Securities Act”), and may be deemed to be “restricted securities” under the Securities Act. As of December 31, 2023, the aggregate fair value of these securities is$412,880 or 36.34% of the Company’s net assets. The acquisition dates of the restricted securities are as follows:

(26)

(27)

Asset is in an escrow liquidating trust.

(28)

Assets or a portion thereof are held within the BCSF Complete Financing Solution Holdco LLC.

(29)

Assets or a portion thereof are pledged as collateral for the 2019-1 Issuer. See Note 6 "Debt".

(30)

Cash equivalents include $52,802 of restricted cash.

(31)

Loan includes interest rate floor of 2.00%.

(32)