Capitala Finance might pay down revolver borrowings via convertibles

By Angela McDaniels

Tacoma, Wash., May 22 – Capitala Finance Corp. might repay borrowings under its senior secured revolving credit facility, according to a company news release.

The company is offering convertible notes due 2022 and expects to use a portion of the proceeds to redeem its 7.125% $25-par notes due 2021. Any leftover proceeds will be used to repay the revolver.

Keefe, Bruyette & Woods is the bookrunner for the new offering.

Capitala Finance is a Charlotte, N.C.-based business development company.

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