Medley selling $25 million $25-par 10-year notes at 6.875% area talk

By Stephanie N. Rotondo

Seattle, Aug. 2 – Medley LLC is offering $25 million of $25-par unsecured notes due Aug. 15, 2026, the company said in an S-1 filed with the Securities and Exchange Commission on Tuesday.

Price talk is in the 6.875% area, according to a market source.

Incapital LLC, FBR Capital Markets, JonesTrading and Ladenburg Thalmann & Co. Inc. are the joint bookrunners. Compass Point is the co-manager.

Interest will be payable on the 15th day of February, May, August and November, beginning Nov. 15. The company can redeem the notes on or after Aug. 15, 2019 at par plus accrued interest.

The notes will be listed on the New York Stock Exchange.

The New York-based asset management firm will use the proceeds to repay outstanding amounts under a senior secured term loan facility with Credit Suisse AG, Cayman Islands Branch.

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