BCSF

EX-99.1

2 bcsf-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Bain Capital Specialty Finance, Inc.

Bain Capital Specialty Finance, Inc. Announces June 30, 2026 Financial Results and Declares Third Quarter 2026 Dividend of $0.42 per Share

BOSTON – August 10, 2026 – Bain Capital Specialty Finance, Inc. (NYSE: BCSF, the “Company”, “our” or “we”) today announced financial results for the second quarter ended June 30, 2026, and that its Board of Directors (the “Board”) has declared a dividend of $0.42 per share for the third quarter of 2026.

"BCSF delivered solid net investment income per share during the second quarter of 2026. Credit quality across our diversified portfolio remains healthy and our borrowers continue to demonstrate sound operating performance," said Michael Ewald, Chief Executive Officer of BCSF. "The current environment continues to present compelling opportunities in the core middle market and we believe BCSF is well-positioned to execute on our longstanding, disciplined strategy and deliver attractive risk-adjusted returns for our shareholders."

Quarterly Highlights

• Net investment income (NII) per share was $0.44, equating to an annualized NII yield on book value of 10.5%(1);

• Net income per share was $0.22, equating to an annualized return on book value of 5.2%(1);

• Net asset value per share as of June 30, 2026 was $16.65, as compared to $16.86 as of March 31, 2026;

• Gross and net investment fundings were $182.0 million and $(95.2) million, respectively; ending net debt-to-equity was 1.22x, as compared to 1.28x as of March 31, 2026(2);

• Investments on non-accrual represented 3.2% and 2.2% of the total investment portfolio at amortized cost and fair value, respectively, as of June 30, 2026, compared to 1.4% and 0.6% of the total investment portfolio at amortized cost and fair value, respectively, as of March 31, 2026; and

• Subsequent to quarter-end, the Company’s Board of Directors declared a dividend of $0.42 per share for the third quarter of 2026 payable to stockholders of record as of September 15, 2026(3).

Selected Financial Highlights

($ in millions, unless otherwise noted)

Q2 2026

Q1 2026

Net investment income per share

$

0.44

$

0.42

Net investment income

$

28.6

$

27.4

Earnings per share

$

0.22

$

0.05

Regular dividends per share declared and payable

$

0.42

$

0.42

($ in millions, unless otherwise noted)

As of June 30, 2026

As of March 31, 2026

Total fair value of investments

$

2,363.6

$

2,470.8

Total assets

$

2,620.1

$

2,601.7

Total net assets

$

1,080.4

$

1,093.6

Net asset value per share

$

16.65

$

16.86

Portfolio and Investment Activity

For the three months ended June 30, 2026, the Company invested $182.0 million in 99 portfolio companies, including $73.4 million in 8 new companies and $108.6 million in 91 existing companies. The Company had $277.2 million of principal repayments and sales in the quarter, resulting in net investment fundings of $(95.2) million.

Investment Activity for the Quarter Ended June 30, 2026:

($ in millions)

Q2 2026

Q1 2026

Investment Fundings

$

182.0

$

243.2

Sales and Repayments

$

(277.2)

$

(255.4)

Net Investment Activity

$

(95.2

)

$

(12.2

)

As of June 30, 2026, the Company’s investment portfolio had a fair value of $2,363.6 million, comprised of investments in 214 portfolio companies operating across 30 different industries.

Investment Portfolio at Fair Value as of June 30, 2026:

Investment Type

$ in Millions

% of Total

First Lien Senior Secured Loan

$

1,499.6

63.4

%

Second Lien Senior Secured Loan

30.1

1.3

Subordinated Debt

86.6

3.7

Preferred Equity

182.7

7.7

Equity Interest

176.8

7.5

Warrants

0.7

0.0

Investment Vehicles

387.1

16.4

Subordinated Note in ISLP

190.7

8.1

Equity Interest in ISLP

30.7

1.3

Subordinated Note in SLP

163.8

6.9

Preferred and Equity Interest in SLP

1.9

0.1

Total

$

2,363.6

100.0

%

As of June 30, 2026, the weighted average yield on the investment portfolio at amortized cost and fair value were 10.8% and 10.4%, respectively, as compared to 10.8% and 10.9%, respectively, as of March 31, 2026(4)(5). 94.5% of the Company’s debt investments at fair value were in floating rate securities.

As of June 30, 2026, four portfolio companies were on non-accrual status, representing 3.2% and 2.2% of the total investment portfolio at amortized cost and fair value, respectively.

As of June 30, 2026, ISLP’s investment portfolio had an aggregate fair value of $705.7 million, comprised of investments in 38 portfolio companies operating across 15 different industries. The investment portfolio on a fair value basis was comprised of 93.9% first lien senior secured loans, 0.7% second lien senior secured loans and 5.4% equity interests. 100% of ISLP’s debt investments at fair value were in floating rate securities.

As of June 30, 2026, SLP’s investment portfolio had an aggregate fair value of $1,587.8 million, comprised of investmen

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