MidCap Financial talks $825 million seven-year notes to yield 6½%-6¾%; pricing Wednesday

By Paul A. Harris

Portland, Ore., April 21 – MidCap Financial, LLC talked its $825 million offering of seven-year senior notes (Ba3/B+/BB) to yield 6½% to 6¾%, tighter than initial guidance in the high 6% area, according to market sources.

The deal is expected to price on Wednesday.

J.P. Morgan Securities LLC is the lead.

The notes come with three years of call protection.

The Bethesda, Md.-based middle market specialty finance services provider plans to use the proceeds to repay debt.

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