New Issue: Fidus Investment prices $125 million of 4.75% five-year notes at 436 bps spread

By Cristal Cody

Tupelo, Miss., Dec. 16 – Fidus Investment Corp. priced $125 million of 4.75% notes due Jan. 31, 2026 (Egan-Jones: A-) on Wednesday at par to yield a spread of 436 basis points over Treasuries, according to an FWP filed with the Securities and Exchange Commission.

Raymond James & Associates, Inc. was the bookrunner.

The notes have a make-whole call at Treasuries plus 50 bps until Oct. 31, 2025 and then a par call.

Proceeds will be used to redeem all of the company’s $50 million of 5.875% notes due 2023, to redeem a portion of its 6% notes due 2024 that are callable on Feb. 15, 2021 and to repay debt under its credit facility.

Fidus is an Evanston, Ill.-based lower middle market investment company.

Issuer:	Fidus Investment Corp.
Amount:	$125 million
Description:	Notes
Maturity:	Jan. 31, 2026
Bookrunner:	Raymond James & Associates, Inc.
Co-managers:	B. Riley Securities, Inc., Janney Montgomery Scott LLC, Keefe, Bruyette & Woods, Inc., Ladenburg Thalmann & Co. Inc., National Securities Corp. and Oppenheimer & Co. Inc.
Coupon:	4.75%
Price:	Par
Yield:	4.75%
Spread:	Treasuries plus 436 bps
Call features:	Make-whole call until Oct. 31, 2025 at Treasuries plus 50 bps; par thereafter
Change-of-control put:	Par
Trade date:	Dec. 16
Settlement date:	Dec. 23
Rating:	Egan-Jones: A-
Distribution:	SEC registered

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