Medley Capital plans stock sale to finance middle-market loans

By Toni Weeks

San Diego, Nov. 27 - Medley Capital Corp. said it plans a public offering of its common stock.

The closed-end management investment company seeks to generate current income and capital appreciation. It is raising funds to lend directly to privately held middle-market companies for acquisitions, growth or refinancing. The portfolio generally consists of senior secured first-lien loans and senior secured second-lien loans.

Goldman Sachs & Co., Barclays, Credit Suisse and UBS Investment Bank are the joint bookrunning managers for the offering.

Brook Taube, Seth Taube and Andrew Fentress comprise the company's portfolio management team.

The company plans to sell 5 million shares with an additional 750,000 shares to cover over-allotments. The last reported sale price of common shares (NYSE: MCC) was $14.25.

MCC Advisors LLC serves as the investment manager and has its corporate offices in New York.

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