By Devika Patel
Knoxville, Tenn., Oct. 1 – Fidus Investment Corp. priced $125 million of 3.5% notes due Nov. 15, 2026 (Egan-Jones: A-) on Friday at a spread of Treasuries plus 257 basis points, according to an FWP filed with the Securities and Exchange Commission.
The notes priced at 99.996 to yield 3.5%.
Raymond James & Associates Inc. and Keefe, Bruyette & Woods Inc. were the bookrunners.
Lead managers were Oppenheimer & Co. Inc., B. Riley Securities Inc., Hovde Group, LLC, ING Financial Markets LLC and Ladenburg Thalmann & Co. Inc.
Proceeds will be used to redeem all of the company’s $19 million of 6% notes due 2024 and its $63.25 million of 5.375% notes due 2024.
Fidus is an Evanston, Ill.-based lower middle market investment company.
| Issuer: | Fidus Investment Corp.
|
| Amount: | $125 million
|
| Description: | Senior notes
|
| Maturity: | Nov. 15, 2026
|
| Bookrunners: | Raymond James & Associates Inc. and Keefe, Bruyette & Woods Inc.
|
| Lead managers: | Oppenheimer & Co. Inc., B. Riley Securities Inc., Hovde Group, LLC, ING Financial Markets LLC and Ladenburg Thalmann & Co. Inc.
|
| Coupon: | 3.5%
|
| Price: | 99.996
|
| Yield: | 3.5%
|
| Spread: | Treasuries plus 257 bps
|
| Call: | Make-whole call at Treasuries plus 50 bps until Aug. 15, 2026, then a par call
|
| Put: | Change-of-control put at par
|
| Trade date: | Oct. 1
|
| Settlement date: | Oct. 8
|
| Rating: | Egan-Jones: A-
|
| Distribution: | SEC registered
|
| Cusip: | 316500AC1
|
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