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©Reuters.
NEW YORK – Morgan Stanley Direct Lending Fund (NYSE:MSDL), managed by MS Capital Partners Advisors, Inc., has set its initial public offering price at $20.67 per share, with an initial public offering price of $20.67 per share, effective January 24, 2024. The company plans to begin trading on the New York Stock Exchange. The offering includes 5,000,000 shares of common stock, with an option for the underwriters to purchase an additional 750,000 shares to cover over-allotments.
The Fund expects to use the proceeds from the IPO to reduce debt under its credit facility, to finance investments in line with its strategy, and for other general corporate purposes. Delivery of the shares is expected to occur on or about January 26, 2024, subject to standard closing conditions.
Morgan Stanley, JPMorgan and Wells Fargo Securities are leading the service as joint bookrunning managers. Other financial institutions are also participating as joint bookrunning managers, including Keefe, Bruyette & Woods, Raymond James, RBC Capital Markets and UBS Investment Bank. A joint management company including ING, JMP Securities, MUFG and SMBC Nikko Securities is backing the proposal.
Morgan Stanley Direct Lending Fund is a non-diversified specialty financial institution focused on lending to middle market companies. As of September 30, 2023, the Fund reported an investment portfolio value of $3.1 billion and net asset value of $1.5 billion.
MSDL operates as a business development company under the Investment Company Act of 1940 and is managed by an indirect, wholly-owned subsidiary of Morgan Stanley, which had approximately $1.5 trillion in assets under management as of December 31, 2023. It has been.
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As Morgan Stanley Direct Lending Fund (NYSE:MSDL) makes its stock market debut, investors will want to know more about the broader financial health and performance trends of its operator, Morgan Stanley (NYSE:MS). You might find it valuable. With a market capitalization of $141.06 billion and a price-to-earnings ratio (P/E) of 16.54, Morgan Stanley holds a significant position in the Capital Markets industry. The company’s commitment to shareholder returns is evidenced by its history of maintaining its dividend for 32 years and increasing it for the past 10 years. This consistency is complemented by a strong return of 21.03% over the past three months.
Morgan Stanley has been profitable for the past 12 months, and analysts expect the company to remain profitable this year, according to InvestingPro Tips. These insights, along with the company’s gross profit margin of 86.47% in the trailing twelve months as of Q1 2023, may give investors confidence in the company’s financial stability and performance.
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