Triangle Capital Corporation Prices Public Offering of $70.0 Million 6.375% Senior Unsecured Notes Due 2022
Triangle Capital Corporation (NYSE: TCAP) today announced that it has priced an underwritten public offering of $70.0 million in aggregate principal amount of 6.375% senior unsecured notes due 2022 (the "Notes"). The Notes will mature on December 15, 2022, and may be redeemed in whole or in part at any time or from time to time at the Company's option on or after December 15, 2015. The Notes will bear interest at a rate of 6.375% per year payable quarterly on March 15, June 15, September 15 and December 15 of each year, beginning December 15, 2012. The Company has also granted the underwriters a 30-day option to purchase up to an additional $10.5 million in aggregate principal amount of Notes to cover over-allotments, if any.
The Company intends to invest the net proceeds of this public offering in lower middle market companies in accordance with its investment objective and strategies, and for working capital and general corporate purposes.
Stifel, Nicolaus & Company, Incorporated, Raymond James and Associates, Inc., BB&T Capital Markets, a division of Scott & Stringfellow, LLC, Janney Montgomery Scott LLC, and Sterne, Agee & Leach, Inc. are acting as joint book-running managers of this offering and J.J.B. Hilliard, W.L. Lyons, LLC, Stephens Inc., and Wunderlich Securities LLC are acting as co-managers for this offering. The offering is expected to close on or about October 19, 2012, subject to customary closing conditions. The Company intends to list the Notes on The New York Stock Exchange and if the application is approved, expects trading in the Notes on The New York Stock Exchange to begin within 30 days from the original issue date under the ticker symbol "TCCA."
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