Bain Capital Private Credit Declares Distributions, Reports NAV and Portfolio Update

What Happened

• Bain Capital Private Credit filed an 8-K on September 25, 2026. The Fund declared a regular distribution of $0.1875 per Class I share and a special distribution of $0.0300 per Class I share, payable to shareholders of record as of September 30, 2026 and payable on or about October 30, 2026 (cash or reinvestment option).
• The Fund reported its Class I NAV as of August 31, 2026 at $25.98 per share. Aggregate NAV was $1,153.6 million; the portfolio fair value was $2,379.1 million and principal debt outstanding was $1,351.8 million (debt-to-equity ~1.17x; net debt-to-equity ~1.09x).
• The Fund sold unregistered Class I shares to feeder vehicles: 192,455 shares for $5.0 million (subscription dated September 1, 2026; issuance finalized September 25, 2026). Total Class I shares issued and outstanding were 45,700,115 with total consideration of $1,171.7 million (through the Sept 1 subscription date).
• Additional operational items: portfolio comprised (by fair value) ~86% first‑lien senior secured debt, 6% subordinated debt, 2% preferred equity, 1% common equity and 4% investment vehicle; 93% of the Fund’s debt investments were floating rate as of August 31, 2026. A tender offer to repurchase up to 5% of Class I shares (Aug 3–Aug 31, 2026) resulted in ~91,231 shares tendered (0.21% of outstanding as of June 30, 2026). Subsequent subscriptions totaled about $16.7 million.

Key Details

• Regular distribution: $0.1875/share; Special distribution: $0.0300/share; record date Sept 30, 2026; pay date on/about Oct 30, 2026.
• NAV per Class I share (Aug 31, 2026): $25.98; aggregate NAV: $1,153.6M; portfolio fair value: $2,379.1M; principal debt: $1,351.8M.
• Portfolio mix (by fair value): 86% first‑lien senior secured; 93% of debt investments are floating rate.
• Unregistered share sale: 192,455 Class I shares for $5.0M to feeder vehicles (exempt under Section 4(a)(2)/Regulation S).

Why It Matters

• Distributions: Investors will receive a scheduled regular payout plus a special distribution with options to take cash or reinvest, affecting near-term cash flow or share count for holders who elect reinvestment.
• NAV, leverage and portfolio mix provide a snapshot of the Fund’s size, capital structure and risk profile—notably high exposure to first‑lien senior secured and predominantly floating-rate debt, and leverage (~1.1–1.2x) that can influence sensitivity to interest rates and credit conditions.
• The modest response to the repurchase tender (0.21% tendered) and continued subscriptions (~$16.7M) indicate limited share repurchases and ongoing investor inflows as of the filing.
• The unregistered sale to feeder vehicles shows additional capital placement into the Fund through private subscription channels; it increases shares outstanding and total consideration received.