Triangle Capital Corporation Closes Overallotment Option in Connection With Public Offering of 6.375% Notes Due 2022 and Trad...
13 Febbraio 2015 - 3:15PM
Triangle Capital Corporation (NYSE:TCAP) (the
"Company") today announced that in connection with the public
offering of $75.0 million in aggregate principal amount of 6.375%
notes due 2022 (the "Notes") which closed on February 6, 2015, the
underwriters have fully exercised their option to purchase an
additional $11.25 million in aggregate principal amount of Notes to
cover overallotments, bringing the total size of the offering to
$86.25 million. The Company received approximately $10.9 million in
additional net proceeds from the sale of the Notes pursuant to the
overallotment option, for a total of approximately $83.3 million in
net proceeds after deducting the underwriting discount and
estimated offering expenses payable by the Company. 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 March 15, 2015. In addition, on February 10, 2015,
the Notes began trading on the NYSE under the symbol TCCB.
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.
Keefe, Bruyette & Woods, Inc., Raymond James &
Associates, Inc., BB&T Capital Markets, a division of BB&T
Securities, LLC, and Janney Montgomery Scott LLC acted as joint
book-running managers of this offering. JMP Securities LLC, Sterne,
Agee & Leach, Inc. and Wunderlich Securities, Inc. acted as
co-lead managers for this offering, and J.J.B. Hilliard, W.L.
Lyons, LLC acted as a co-manager for this offering.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy nor will there be any sale of the
Notes referred to in this press release in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of such state or jurisdiction.
About Triangle Capital Corporation
Triangle Capital Corporation (www.TCAP.com) invests capital in
established companies in the lower middle market to fund growth,
changes of control and other corporate events. Triangle offers
a wide variety of investment structures with a primary focus on
mezzanine financing with equity components. Triangle's
investment objective is to seek attractive returns by generating
current income from debt investments and capital appreciation from
equity related investments. Triangle's investment philosophy
is to partner with business owners, management teams and financial
sponsors to provide flexible financing solutions. Triangle
typically invests $5.0 million - $35.0 million per transaction in
companies with annual revenues between $20.0 million and $200.0
million and EBITDA between $3.0 million and $35.0 million.
Triangle has elected to be treated as a business development
company under the Investment Company Act of 1940 ("1940
Act"). Triangle is required to comply with a series of
regulatory requirements under the 1940 Act as well as applicable
New York Stock Exchange, federal and state laws and
regulations. Triangle has elected to be treated as a regulated
investment company under the Internal Revenue Code of
1986. Failure to comply with any of the laws and regulations
that apply to Triangle could have a material adverse effect on
Triangle and its stockholders.
Forward-Looking Statements
This press release may contain forward looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Any such statements, other than statements of historical
fact, are likely to be affected by other unknowable future events
and conditions, including elements of the future that are or are
not under the Company's control, and that the Company may or may
not have considered; accordingly, such statements cannot be
guarantees or assurances of any aspect of future
performance. Actual developments and results are highly likely
to vary materially from these estimates and projections of the
future and some of these uncertainties are enumerated in Triangle's
filings with the Securities and Exchange Commission. Certain
factors that could cause actual results to differ materially from
those contained in the forward-looking statements are included in
Triangle's annual reports on Form 10-K, quarterly reports on Form
10-Q and current reports on Form 8-K, each as filed with the
Securities and Exchange Commission. Such statements speak only as
of the time when made, and the Company undertakes no obligation to
update any such statement now or in the future.
CONTACT: Sheri Blair Colquitt
Vice President, Investor Relations
919-719-4784
scolquitt@tcap.com
Steven C. Lilly
Chief Financial Officer
919-719-4789
slilly@tcap.com
Grafico Azioni Triangle Capital Corp. 6.375% Notes Due 2022 (delisted) (NYSE:TCCB)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Triangle Capital Corp. 6.375% Notes Due 2022 (delisted) (NYSE:TCCB)
Storico
Da Giu 2023 a Giu 2024