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EX - 99.1 2 tm2114414d2_ex99-1.htm EXHIBIT 99.1 BainCapital CREDIT Bain Capital Specialty Finance , Inc. 2025-07-16 , 10:35 Exhibit 99.1 Bain Capital Specialty Finance , Inc. Announces March 31 , 2021 Financial Results and Declares Second Quarter 2021 Dividend of $ 0.34 per Share - BOSTON May 5 , 2021 Bain Capital Specialty Finance , Inc. ( NYSE : BCSF , the “ Company ” , “ our ” or “ we ” ) today announced its financial results for the first quarter ended March 31 , 2021 , and that its Board of Directors has declared a dividend of $ 0.34 per share for the second quarter of 2021 . " We delivered strong first quarter earnings results driven by higher interest income , improved credit metrics and net gains across our diversified portfolio , ” said Michael Ewald , Chief Executive Officer of BCSF . " We also strengthened the Company's balance sheet by further diversifying our liability structure and demonstrated meaningful de - leveraging to better position BCSF to capitalize on new investment opportunities in an attractive environment , while remaining disciplined in our credit approach . " QUARTERLY HIGHLIGHTS Net investment income per share was $ 0.34 , as compared to $ 0.34 for the quarter ended December 31 , 2020 ; Net income per share was $ 0.49 , as compared to $ 0.61 for the quarter ended December 31 , 2020 ; Net asset value per share as of March 31 , 2021 was $ 16.69 , as compared to $ 16.54 as of December 31 , 2020 ; Gross and net investment fundings were $ 383.9 million and $ ( 165.5 ) million , respectively . Ending debt - to - equity ( net of cash ) ratio was 1.15x , as compared to 1.30x as of December 31 , 2020 ; The investment portfolio yield at amortized cost was 7.6 % , up from 7.3 % as of December 31 , 2020 ( ¹ ) ; No investments were on non - accrual status as of March 31 , 2021 ; In February 2021 , the Company formed the International Senior Loan Program , LLC ( " ISLP ” ) , a joint venture focused on investing in middle market direct lending opportunities across Europe and Australia . The Company contributed senior secured debt investments at fair value of $ 317.1 million in exchange for an ownership stake in the joint venture ; Moody's Investors Service assigned the Company with an investment grade rating of Baa3 and Stable outlook ; On March 10 , 2021 , the Company closed an offering of $ 300.0 million aggregate principal amount of 2.95 % unsecured notes due 2026. The net proceeds of the offering were primarily used to pay down debt under the Company's revolving credit facilities ; and Subsequent to quarter - end , the Company's Board of Directors declared a dividend of $ 0.34 per share for the second quarter of 2021 payable to stockholders of record as of June 30 , 2021 ( 2 ) . SELECTED FINANCIAL HIGHLIGHTS ( $ in millions , unless otherwise noted ) Net investment income per share Net investment income Earnings per share Dividends per share declared and payable SA SASA A Q1 2021 Q4 2020 0.34 $ 0.34 22.2 $ 21.9 0.49 $ 0.61 0.34 $ 0.34 https://www.sec.gov/Archives/edgar/data/1655050/000110465921061814/tm2114414d2_ex99-1.htm Page 1 of 10