Morgan Stanley Direct Lending Fund (NYSE: MSDL) announced today the pricing of a $350 million offering of 6.000% notes due 2030. The notes will mature on May 19, 2030, and can be redeemed by the company at any time, either in part or in full, at par plus a make-whole premium. However, the notes may be redeemed at par one month prior to their maturity.
The offering is expected to close around May 19, 2025, pending the satisfaction of customary closing conditions.
The net proceeds from this offering will be used to pay down outstanding secured debt under the company’s financing arrangements and for general corporate purposes.
A group of major financial institutions are acting as joint book-running managers for the offering, including SMBC Nikko Securities America, BNP Paribas Securities, RBC Capital Markets, Truist Securities, Wells Fargo Securities, ING Financial Markets, J.P. Morgan Securities, Morgan Stanley & Co., MUFG Securities Americas, and Regions Securities. Several others are acting as co-managers.
Investors are advised to carefully consider the investment objectives, risks, charges, and expenses before making any investment decisions. The offering’s pricing term sheet, preliminary prospectus supplement, and the accompanying prospectus, all filed with the U.S. Securities and Exchange Commission (SEC), should be read thoroughly before investing.
The information in these documents, including the pricing term sheet, may be updated and is not an offer to sell or solicit an offer to buy securities in any jurisdiction where such offers are not permitted.
About Morgan Stanley Direct Lending Fund:
Morgan Stanley Direct Lending Fund (MSDL) is a non-diversified, externally managed specialty finance company focused on lending to middle-market companies. MSDL is regulated as a business development company under the Investment Company Act of 1940. The fund is externally managed by MS Capital Partners Adviser Inc., a wholly owned subsidiary of Morgan Stanley.
Forward-Looking Statements:
This press release includes forward-looking statements about the future performance of MSDL. These statements involve risks and uncertainties, and actual results may differ significantly from the projections made here due to market conditions, interest rate fluctuations, and other factors. MSDL is under no obligation to update these statements.
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