PC · PRIVATE CREDIT

Franklin BSP Lending Fund

Franklin Templeton · Interval Fund

Program Overview

Interval Fund

Peer Group Filters

Objectives: Income
Asset Class: Private Credit
Vehicle: Interval Fund
Single / Multi Asset: Multi-Asset

Sponsor/Manager

Franklin Templeton

Asset Class

Private Credit

Issuer

Franklin BSP Lending Fund

Issuer Legal Structure

Delaware Statutory Trust

Program Life Structure

Perpetual

Securities Offered

Equity - Franklin BSP Lending Fund Class S Shares Equity - Franklin BSP Lending Fund Class D Shares Equity - Franklin BSP Lending Fund Class M Shares Equity - Franklin BSP Lending Fund Class I Shares Equity - Franklin BSP Lending Fund Class R6 Shares

Target Leverage

Minimum 300% asset coverage Fund expects modest leverage within 300% asset coverage (1940 Act). $50M revolver with U.S. Bank (SOFR-based, matures 2/3/2027); $50,000,000 outstanding and 719% asset coverage at 6/30/2026.

Strategy Risk/Return Profile

Managing Broker-Dealer

Franklin Distributors, LLC

Scale

101,497 Class I shares outstanding · 30,396,832 Class R6 shares outstanding

Minimum Investment

$2,500

Franklin BSP Lending Fund Class S Shares · waivable

Strategy Overview

The prospectus states the objective is risk-adjusted returns with consistent current income. The Fund invests primarily in private debt of U.S. middle market companies (about $25-100 million EBITDA), mainly first and second lien senior secured loans and mezzanine debt, plus broadly syndicated loans, CLOs and high yield bonds. Debt investments are at least 80% of net assets; modest leverage is expected within the 300% asset coverage limit.

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