Carlyle Secured Lending, Inc. (Nasdaq: CGBD) (the "Company") today
announced that it has priced an underwritten public offering of
$75.0 million aggregate principal amount of 8.20% unsecured notes
due 2028 (the "Notes").
The Notes will mature on December 1, 2028 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 1, 2025. The Notes will bear interest
at a rate of 8.20% per year payable quarterly on March 1, June 1,
September 1, and December 1 of each year, beginning March 1, 2024.
The Company also granted the underwriters a 30-day option to
purchase up to an additional $10.0 million aggregate principal
amount of the Notes, solely to cover overallotments, if any.
The offering is expected to close on November 20, 2023, subject
to customary closing conditions. The Notes are expected to be
listed on the Nasdaq Global Select Market (“Nasdaq”) and to trade
thereon within 30 days of the original issue date under the trading
symbol “CGBDL”.
Morgan Stanley & Co. LLC and UBS Securities LLC are acting
as joint book-running managers for this offering and B. Riley
Securities, Inc. and TCG Capital Markets, L.L.C. are acting as
co-managers for this offering. The Company intends to use the net
proceeds from this offering to repay a portion of the amount
outstanding under its existing senior secured revolving credit
facility, to fund new investment opportunities, and for other
general corporate purposes. The Company may reborrow from its
revolving credit facility for general corporate purposes, which
includes funding new investment opportunities in accordance with
its investment objectives.
Investors are advised to carefully consider the
investment objectives, risks and charges and expenses of the
Company before investing. The preliminary prospectus supplement,
dated November 13, 2023, and the accompanying prospectus, dated
April 29, 2021, each of which has been filed with the U.S.
Securities and Exchange Commission (the "SEC"), contain a
description of these matters and other information about the
Company and should be read carefully before investing.
The offering is being conducted as a public offering under the
Company's effective shelf registration statement filed with the SEC
(File No. 333-255589) and which became effective upon such
filing.
This offering is being made solely by means of a written
prospectus forming part of the effective registration statement and
a related preliminary prospectus supplement, which may be obtained
for free by visiting the SEC’s website at www.sec.gov or from
Morgan Stanley & Co. LLC, 1585 Broadway, New York, New York
10036; or by calling Morgan Stanley & Co. LLC,
toll-free at 1-866-718-1649 and from UBS Securities LLC,
1285 Avenue of the Americas, New York, New York 10019; or by
calling UBS Securities LLC, toll-free at
1-888-827-7275.
The information in the preliminary prospectus
supplement, the accompanying prospectus and this press release is
not complete and may change. This communication shall
not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of, the Notes in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction.
About Carlyle Secured Lending: Carlyle
Secured Lending, Inc. is a closed-end, non-diversified and
externally managed investment company that has elected to be
regulated as a business development company under the Investment
Company Act of 1940, as amended. Our objective is to generate
current income and capital appreciation by sourcing and providing
senior secured debt investments to U.S. companies in the middle
market that are generally backed by private equity sponsors. The
Company is managed by Carlyle Global Credit Investment Management
L.L.C., an SEC-registered investment adviser and a wholly owned
subsidiary of The Carlyle Group Inc (“Carlyle”). We derive
significant benefit from our ability access and leverage Carlyle's
significant scale, vast resources and world-class talent.
About Carlyle: Carlyle (NASDAQ: CG) is a global
investment firm with deep industry expertise that deploys private
capital across three business segments: Global Private Equity,
Global Credit and Global Investment Solutions. With $382 billion of
assets under management as of September 30, 2023, Carlyle’s
purpose is to invest wisely and create value on behalf of its
investors, portfolio companies and the communities in which we live
and invest. Carlyle employs more than 2,200 people in 28 offices
across four continents.
Forward-Looking Statements
Statements included herein contain certain “forward-looking
statements” within the meaning of the federal securities laws,
including statements with regard to the Company’s Notes offering
and the anticipated use of the net proceeds of the offering. You
can identify these statements by the use of forward-looking
terminology such as “anticipates,” “believes,” “expects,”
“intends,” “will,” “should,” “may,” “plans,” “continue,”
“believes,” “seeks,” “estimates,” “would,” “could,” “targets,”
“projects,” “outlook,” “potential,” “predicts” and variations of
these words and similar expressions to identify forward-looking
statements, although not all forward-looking statements include
these words. You should read statements that contain these words
carefully because they discuss our plans, strategies, prospects and
expectations concerning our business, operating results, financial
condition and other similar matters. We believe that it is
important to communicate our future expectations to our investors.
There may be events in the future, however, that we are not able to
predict accurately or control. You should not place undue reliance
on these forward-looking statements, which speak only as of the
date on which we make it. Factors or events that could cause our
actual results to differ, possibly materially from our
expectations, include, but are not limited to, the risks,
uncertainties and other factors we identify in the sections
entitled “Risk Factors” and “Cautionary Statement Regarding
Forward-Looking Statements” in filings we make with the SEC, and it
is not possible for us to predict or identify all of them. We
undertake no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
Contacts: |
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Investors: |
Media: |
Daniel Hahn |
Kristen Greco
Ashton |
+1 (212)
813-4900publicinvestor@carlylesecuredlending.com |
+1 (212)
813-4763 kristen.ashton@carlyle.com |
SOURCE: Carlyle Secured Lending, Inc.
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