MVC to issue $25-par 10-year notes, use proceeds to pay down facility

By Stephanie N. Rotondo

Phoenix, Feb. 19 - MVC Capital Inc. intends to sell $25-par senior notes due February 2023, the company said in a prospectus filed with the Securities and Exchange Commission on Tuesday.

UBS Securities LLC and Morgan Stanley & Co. Inc. are the joint bookrunning managers. BB&T Capital Markets, JMP Securities LLC, MLV & Co. LLC and Sterne, Agee & Leach, Inc. are co-managers.

The notes will become redeemable at par plus accrued interest in February 2016.

The Purchase, N.Y.-based investment company will apply to list the notes on the New York Stock Exchange under the ticker symbol "MVCB."

Proceeds will be used to pay down a credit facility. Any remaining funds will be used for general corporate purposes.

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