MidCap Financial starts roadshow for $825 million seven-year notes; initial talk high 6% area

By Paul A. Harris

Portland, Ore., April 19 – MidCap Financial, LLC began a roadshow on Monday for an $825 million offering of seven-year senior notes (B+/BB), according to market sources.

Initial guidance is in the high 6% area, a trader said.

Pricing is expected on Wednesday.

J.P. Morgan Securities LLC is the lead.

The notes come with three years of call protection.

The Bethesda, Md.-based middle market specialty finance services provider plans to use the proceeds to repay debt.

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