By Stephanie N. Rotondo
Seattle, May 10 – Capitala Finance Corp. priced a $70 million offering of $25-par notes due May 31, 2022 at par to yield 6%, the company said in a press release on Wednesday.
The deal was first announced late Tuesday. The size was lifted from $50 million.
Ladenburg Thalmann & Co. Inc., BB&T Capital Markets, Janney Montgomery Scott LLC, William Blair & Co. LLC and Wunderlich Securities Inc. are the joint bookrunners.
There is a $10.5 million over-allotment option.
Interest will be payable on the last day of February, May, August and November, beginning Aug. 31. The notes become redeemable on or after May 31, 2019 at par plus accrued interest.
The new securities will be listed on the Nasdaq Global Select Market under the ticker “CPTAL.”
The Charlotte, N.C.-based business development company will use proceeds to redeem a portion of its $113.4 million outstanding 7.125% fixed-rate notes due 2021.
| Issuer: | Capitala Finance Corp.
|
| Securities: | Notes
|
| Amount: | $70 million
|
| Greenshoe: | $10.5 million
|
| Maturity: | May 31, 2022
|
| Bookrunners: | Ladenburg Thalmann & Co. Inc., BB&T Capital Markets, Janney Montgomery Scott LLC, William Blair & Co. LLC and Wunderlich Securities Inc.
|
| Co-manager: | Seaport Global Securities LLC
|
| Coupon: | 6%
|
| Price: | Par of $25
|
| Yield: | 6%
|
| Talk: | 6%
|
| Call options: | On or after May 31, 2019 at par plus accrued interest
|
| Pricing date: | May 10
|
| Settlement date: | May 16
|
| Expected listing: | Nasdaq: CPTAL
|
© 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.
