Morgan Stanley Direct Lending Fund (“MSDL”), a business development company externally managed by MS Capital Partners Adviser Inc., announced that it priced its initial public offering of 5,000,000 shares of its common stock, par value $0.001 per share (the “Common Stock”) at $20.67 per share.

MSDL’s shares of Common Stock are expected to begin trading on The New York Stock Exchange on January 24, 2024 under the symbol “MSDL.” MSDL also granted the underwriters an option to purchase up to an additional 750,000 shares of Common Stock to cover overallotments, if any. The closing of the offering is subject to customary closing conditions. The shares are expected to be delivered on or about January 26, 2024.

MSDL intends to use the net proceeds from this offering to repay a portion of the amounts outstanding under its credit facilities, to make investments in accordance with its investment objectives and strategies, and for other general corporate purposes.

Morgan Stanley, J.P. Morgan, and Wells Fargo Securities are acting as lead joint book-running managers for the offering. Keefe, Bruyette and Woods, A Stifel Company, Raymond James, RBC Capital Markets, and UBS Investment Bank are also acting as joint book-running managers for the offering. ING, JMP Securities, A Citizens Company, MUFG, SMBC Nikko, Academy Securities, Loop Capital Markets, R. Seelaus & Co., LLC, and Ramirez & Co., Inc. are acting as co-managers for the offering.

Source: Morgan Stanley