Medley offers $25 million of $25-par notes due 2023, to repay debt

By Stephanie N. Rotondo

Seattle, Nov. 15 – Medley LLC, the operating company of Medley Management Inc., is offering $25 million of $25-par notes due 2023.

There is a $3.75 million over-allotment option.

FBR, Ladenburg Thalmann & Co. Inc., Compass Point, William Blair & Co. and JonesTrading are the joint bookrunners. National Securities Corp., Maxim Group LLC and Boenning & Scattergood Inc. are the co-managers.

Interest will be payable on a quarterly basis. The notes are redeemable at par plus accrued interest.

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

Proceeds will be used to repay a portion of outstanding amounts under a senior secured term loan facility with Credit Suisse AG, Cayman Islands Branch.

Medley is a New York-based asset management firm.

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