By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – Fidus Investment Corp. said it priced $60 million of $25-par five-year notes after the market close on Tuesday at par with a coupon of 6%.
Keefe, Bruyette & Woods Inc. is the bookrunner for the offering, which carries a greenshoe of $9 million.
Co-lead managers were BB&T Capital Markets, Janney Montgomery Scott LLC and Ladenburg Thalmann & Co. Inc.
The notes are callable after two years.
Net proceeds are expected to be $57.8 million, or $66.5 million if the greenshoe is exercised.
Fidus plans to use the proceeds to repay outstanding debt under its credit facility.
The company plans to list the notes on the Nasdaq Global Select Market under the symbol “FDUSZ.”
Fidus is an Evanston, Ill.-based externally managed, closed-end, non-diversified management investment company.
| Issuer: | Fidus Investment Corp.
|
| Issue: | Notes
|
| Amount: | $60 million
|
| Greenshoe: | $9 million
|
| Maturity: | Feb. 15, 2024
|
| Bookrunner: | Keefe, Bruyette & Woods Inc.
|
| Co-lead managers: | BB&T Capital Markets, Janney Montgomery Scott LLC and Ladenburg Thalmann & Co. Inc.
|
| Co-managers: | B. Riley FBR and William Blair
|
| Coupon: | 6%
|
| Price: | Par of $25
|
| Yield: | 6%
|
| Call: | Non-callable until Feb. 15, 2021 then freely callable at par
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 8
|
| Rating: | Egan-Jones: A-
|
| Distribution: | Off shelf
|
| Symbol: | Nasdaq Global Select Market: “FDUSZ”
|
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