GSV Capital plans to sell $50 million five-year convertibles to yield 5%-5.5%, up 30%-35%

By Rebecca Melvin

New York, Sept. 11- GSV Capital Corp. plans to price $50 million of five-year convertible senior notes after the market close Wednesday that were talked to yield 5% to 5.5% with an initial conversion premium of 30% to 35%, according to a syndicate source.

The Rule 144A offering has a $7.5 million over-allotment option.

Citigroup Global Markets Inc. is the bookrunner.

The notes are non-callable for life.

Proceeds will be used to acquire government securities to be pledged for the exclusive benefit of the noteholders, with remaining proceeds for general corporate purposes, which include investing in portfolio companies and to pay operating and other expenses.

Based in Woodside, Calif., GSV Capital is an investment fund that focuses on high-growth, venture-backed private companies.

© 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.