FRBP
FRANKLIN BSP CAP CORP10.25
+1.05+11.4%
May 30, 9:55:45 AM EDT
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
1.38BP/E (TTM)
20.92Basic EPS (TTM)
0.49Dividend Yield
0%Recent Filings
10-K
FY2025 results
Franklin BSP Capital grew its portfolio to $4.1B at year-end 2025 from $3.7B in 2024, with $1.1B new investments offset by $966M exits, maintaining 87% in senior secured debt yielding 9.7% (derived). Q4 momentum showed steady deployment amid $701M unfunded commitments, yet non-accruals held at eight companies (1.1% fair value). Net investment income dipped to $164M from $188M annually, pressured by $141M debt costs on $2.2B average borrowings at 6.17%, while $60M net realized/unrealized losses reflected restructurings at Coronis and BCPE. Leverage stayed prudent at 179% asset coverage with $865M revolver capacity. Portfolio stayed illiquid.
8-K
Appoints new COO
Franklin BSP Capital Corporation appointed Jamie Smith as Chief Operating Officer on January 28, 2026, effective immediately. The 50-year-old BSP Managing Director and Private Debt COO brings prior Credit COO experience at Platinum Equity. No family ties or material interests disclosed. Smooth leadership addition.
10-Q
Q3 FY2025 results
Franklin BSP Capital posted steady Q3 FY2025 results through September 30, with total investment income dipping 2.1% y/y to $103.9M from $106.2M yet up 2.4% y/y YTD to $314.9M, driven by non-affiliate interest offsetting control investment declines. Net investment income fell 9.4% y/y to $40.1M quarterly ($0.30/share) and 12.8% y/y YTD to $124.6M ($0.92/share), reflecting higher interest/debt fees up 7.6% y/y quarterly to $35.7M from expanded leverage. Realized gains swung positive $1.0M quarterly from a $22.7M loss, but unrealized depreciation hit $16.8M quarterly and $42.2M YTD, yielding $24.3M quarterly and $75.3M YTD operations. Debt stands at $2.3B (net) with $108.6M cash; NAV slipped to $13.67/share. Non-accruals ticked to 1.9% of portfolio. Leverage stays a persistent drag.
8-K
Closes $300M notes offering
8-K
Franklin BSP issues $300M notes
Franklin BSP Capital Corporation entered a purchase agreement on September 25, 2025, to issue $300 million in 6.000% Notes due 2030 at 98.844% of par, with semi-annual interest starting April 2, 2026, and closing expected October 2, 2025. Net proceeds will repay indebtedness, including credit facilities, while funding investments in portfolio companies. This bolsters liquidity for the business development company's lending operations. Yet risks lurk in market volatility.
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