By Aleesia Forni
Virginia Beach, Aug. 26 – Business Development Corp. of America priced a $100 million offering of 6% senior notes (Kroll: BBB) due Sept. 1, 2020, according to a company news release.
The deal’s size was originally set at $150 million.
Keefe, Bruyette & Woods and UBS Securities LLC are the bookrunners.
Proceeds will be used to make investments in portfolio companies in accordance with investment objectives and for general corporate purposes.
New York-based Business Development was established to provide capital primarily in the form of senior secured loans to middle-market enterprises. It invests in both the debt and equity of private middle-market companies.
| Issuer: | Business Development Corp. of America
|
| Amount: | $100 million, downsized from $150 million
|
| Description: | Senior notes
|
| Maturity: | Sept. 1, 2020
|
| Bookrunners: | Keefe, Bruyette & Woods, UBS Securities LLC
|
| Co-managers: | William Blair, Ladenburg Thallmann
|
| Coupon: | 6%
|
| Trade date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Rating: | Kroll: BBB
|
| Distribution: | Rule 144A
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
