TCG BDC Inc. has filed a prospectus related to an initial public offering of 9 million common shares.
The proposed maximum offering price, estimated for the purpose of calculating the amount of the registration fee, is $19.50 per share, for an aggregate offering price of $201.8 million.
The company has also given the underwriters an option to buy an additional 1,350,000 shares.
TCG BDC expects to generate net proceeds of about $164.1 million, or about $188.9 million if the underwriters exercise their option in full, based on an offering price of $19.00 per share. The company said it will use the net proceeds from the offering to repay a portion of its outstanding debt.
The joint book-running managers for the offering are Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and Citigroup Global Markets Inc. Keefe Bruyette & Woods Inc. and Wells Fargo Securities LLC are acting as book runners while HSBC Securities (USA) Inc. and Mizuho Securities USA LLC are the co-managers for the offering.