© Reuters.
NEW YORK – MSDL, a business development company also known as Morgan Stanley Direct Lending Fund, made its debut on the New York Stock Exchange (NYSE) today under the ticker symbol MSDL. The company’s initial public offering (IPO) was priced at $20.67 per share, signaling the market’s interest in firms that provide capital to middle-market companies.
The IPO proceeds are earmarked for a strategic paydown of MSDL’s credit facilities and to further bolster investments in middle-market firms. As a business development company, MSDL operates under the regulations of the Investment Company Act of 1940, which allows it to offer financial support to a segment of the market that often struggles to secure funding from traditional banks.
Leading the offering as joint book-running managers are prominent financial institutions Morgan Stanley, J.P. Morgan, and Wells Fargo Securities. Additionally, MS Capital Partners Adviser,…
