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Bain Capital Specialty Finance , Inc. (NYSE:BCSF) has disclosed executive transitions in a recent SEC filing. Michael Treisman stepped down as Vice President on February 12, 2025, and the company’s Board of Trustees has appointed Jessica Yeager to fill the vacated role, effective the same day. Yeager, who has been with the company as Secretary since July 2022, brings legal expertise from her time as general counsel for Private Credit at Bain Capital Credit and as an associate at Ropes & Gray LLP.
Concurrently, Thomas Emery has been appointed as the new Secretary of Bain Capital Specialty Finance, Inc., succeeding Yeager. Emery’s background includes a senior accountant role at Deloitte and a position as vice president in finance at Bain Capital Credit.
Both Emery and Yeager hold impressive credentials, with Emery being a Chartered Financial Analyst® charterholder and a Certified Public Accountant, and Yeager having earned a J.D. from Boston University School of Law. The company, which boasts a notable 9.06% dividend yield and trades at a P/E ratio of 9.34, is scheduled to report its next earnings on February 27, 2025.
The company has affirmed that neither Emery nor Yeager has any familial ties with current trustees or executive officers, nor are there any material transactions involving them that would necessitate disclosure under SEC regulations.
This executive reshuffling at Bain Capital Specialty Finance, Inc. comes as part of the company’s ongoing governance and oversight strategy. The announcement, made in accordance with SEC requirements, reflects the company’s commitment to maintaining a robust leadership team to navigate the financial sector’s challenges and opportunities.
The information in this article is based on a press release statement from Bain Capital Specialty Finance, Inc.
In other recent news, Bain Capital Specialty Finance announced the issuance and pricing of $350 million in senior unsecured notes with an interest rate of 5.950%, set to mature on March 15, 2030. The company plans to use the net proceeds, approximately $342.3 million after expenses, to repay existing secured debt and for general corporate purposes.
The notes, which are senior in right of payment to future subordinated debt, will be payable semi-annually, with the first payment due on September 15, 2025. Bain Capital Specialty Finance has included covenants in the indenture requiring compliance with asset coverage requirements and the provision of financial information if it ceases to be subject to Securities Exchange Act reporting requirements.
The transaction, facilitated by a Third Supplemental Indenture with U.S. Bank Trust Company, National Association as trustee, closed recently. SMBC Nikko Securities America, Inc. and other financial institutions managed the book-running for this offering. Bain Capital Specialty Finance’s move is part of its broader strategy to manage its debt portfolio and finance operations.
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