TCG BDC Prices IPO at $18.50-$19.50 Per Share (CGBD)

TCG BDC (CGBD) expects to raise $171 million in an IPO on Wednesday, June 14th, IPO Scoop reports. The company plans to issue 9,000,000 shares at a price of $18.50-$19.50 per share.

In the last twelve months, TCG BDC generated $122 million in revenue and $88.7 million in net income. TCG BDC has a market cap of $1.2 billion.

BofA Merrill Lynch, Morgan Stanley, J.P. Morgan, Citigroup, Keefe, Bruyette & Woods (A Stifel Company) and Wells Fargo Securities served as the underwriters for the IPO and HSBC and Mizuho Securities were co-managers.

TCG BDC provided the following description of their company for its IPO: “We are an externally managed specialty finance company focused on lending to middle-market companies. We are managed by our Investment Adviser, a wholly owned subsidiary of The Carlyle Group L.P. Since we commenced investment operations in May 2013 through March 31, 2017, we have invested more than $2.4 billion in aggregate principal amount of debt and equity investments prior to any subsequent exits or repayments. Our investment objective is to generate current income and capital appreciation primarily through debt investments in U.S. middle market companies, which we define as companies with approximately $10 million to $100 million of EBITDA, which we believe is a useful proxy for cash flow. “.

TCG BDC was founded in 2012 and has 0 employees. The company is located at 520 Madison Avenue, 40th Floor, New York, NY 10022, US and can be reached via phone at (212) 813-4900 or on the web at

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