New Issue: Medley sells upsized $30 million 7.25% $25-par notes due 2024

By Stephanie N. Rotondo

Seattle, Jan. 13 – Medley LLC priced $30 million of 7.25% $25-par seven-year notes at par on Friday, the company said in a press release.

There is a $4.5 million over-allotment option. The deal was upsized from $25 million and the greenshoe increased from $3.75 million.

FBR Capital Markets, Incapital, BB&T Capital Markets, Compass Point, Ladenburg Thalmann & Co. Inc., William Blair and JonesTrading are the joint bookrunners.

Interest is payable on a quarterly basis. The notes become redeemable on or after Jan. 30, 2020 at par plus accrued interest.

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 externally managed, non-diversified closed-end management investment company.

Issuer:	Medley LLC
Securities:	Notes
Amount:	$30 million, increased from $25 million
Greenshoe:	$4.5 million, increased from $3.75 million
Maturity:	Jan. 30, 2024
Bookrunners:	FBR Capital Markets, Incapital, BB&T Capital Markets, Compass Point, Ladenburg Thalmann & Co. Inc., William Blair, JonesTrading
Co-managers:	Boenning & Scattergood Inc., Maxim Group LLC, National Securities Corp., Wedbush Securities Inc.
Coupon:	7.25%
Price:	Par of $25
Yield:	7.25%
Call options:	On or after Jan. 30, 2020 at par plus accrued interest
Pricing date:	Jan. 13
Settlement date:	Jan. 18
Expected listing:	NYSE: MDLQ
Cusip:	58503Y204

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