Morgan Stanley Direct Lending Fund Announces IPO of 5M Shares
Morgan Stanley Direct Lending Fund (“MSDL”), a business development company managed by MS Capital Partners Adviser Inc., has announced that it will be initiating an initial public offering (IPO) of 5,000,000 shares of its common stock. The estimated price for the offering is $20.67 per share, and MSDL is expected to list its Common Stock on the New York Stock Exchange under the symbol “MSDL“. The underwriters for the IPO will have an option to purchase up to an additional 750,000 shares to cover any overallotments. The completion of the offering is subject to various factors, including market conditions.
MS Capital Partners Adviser to Manage Morgan Stanley IPO
MS Capital Partners Adviser Inc., an indirect subsidiary of Morgan Stanley, will be managing the IPO of Morgan Stanley Direct Lending Fund. As a specialty finance company, MSDL focuses on lending to middle-market companies. It has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. MSDL is not a subsidiary of or consolidated with Morgan Stanley.
Morgan Stanley Direct Lending Fund to List on NY Stock Exchange
Upon the completion of the IPO, Morgan Stanley Direct Lending Fund is expected to list its common stock on the New York Stock Exchange under the symbol “MSDL“. This listing will provide investors with an opportunity to participate in the performance of the fund and access to its investment strategies.
Underwriters for Morgan Stanley IPO include Wells Fargo Securities and J.P. Morgan
Leading financial institutions Morgan Stanley, J.P. Morgan, and Wells Fargo Securities have been appointed as the lead joint book-running managers for the IPO. These prominent institutions will oversee the process of issuing and distributing the shares of Morgan Stanley Direct Lending Fund’s common stock to investors. Additionally, Keefe, Bruyette and Woods, Raymond James, RBC Capital Markets, and UBS Investment Bank will also serve as joint book-running managers for the offering.
Proceeds from Morgan Stanley IPO to be used for debt repayment and investment purposes
The net proceeds from the IPO of Morgan Stanley Direct Lending Fund will be utilized for several purposes. A portion of the funds will be used to repay outstanding amounts under its credit facilities. The remainder of the proceeds will be invested in accordance with the fund’s investment objectives and strategies. The allocation of funds will be done considering the general corporate purposes of the fund.
In conclusion, Morgan Stanley Direct Lending Fund’s IPO of 5 million shares will provide investors with an opportunity to invest in the fund’s common stock and gain exposure to middle-market lending. The IPO will be managed by MS Capital Partners Adviser Inc., and upon completion, the fund’s stock will be listed on the New York Stock Exchange. The underwriters for the IPO include Morgan Stanley, J.P. Morgan, and Wells Fargo Securities, among others. The net proceeds from the IPO will be used for various purposes, including debt repayment and investment activities. Investors are advised to carefully consider the investment objectives and risks before investing in Morgan Stanley Direct Lending Fund.
Analyst comment
Positive news: Morgan Stanley Direct Lending Fund announces IPO of 5M shares. Market analysts expect the fund’s stock to perform well and attract investors. The IPO will be managed by MS Capital Partners Adviser Inc. and the stock will be listed on the NY Stock Exchange. Proceeds will be used for debt repayment and investment purposes.
