Hercules Capital to tap 4.625% notes due 2022

By Cristal Cody

Tupelo, Miss., Jan. 16 – Hercules Capital, Inc. intends to reopen its 4.625% notes due Oct. 23, 2022 (BBB-), according to a 497 filing with the Securities and Exchange Commission on Tuesday.

Citigroup Global Markets Inc., Jefferies & Co. and Wells Fargo Securities, LLC are the bookrunners.

The company’s first investment-grade bond issuance priced on Oct. 18 in a $150 million offering. The 2022 notes were sold at 99.449 to yield 4.75%, or a spread of Treasuries plus 276 basis points.

Hercules Capital also plans to hold fixed income investor calls on Tuesday and Wednesday via Citigroup, Jefferies and Wells Fargo. The bond offering may follow the calls, according to a company news release.

The notes have a make-whole call at the greater of par or Treasuries plus 45 bps and are callable at par on or after Sept. 23, 2022.

Proceeds from the add-on will be used to redeem Hercules’ outstanding 6.25% notes due 2024, for investments in debt and equity securities and for other general corporate purposes.

Hercules is a Palo Alto, Calif.-based specialty finance company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.