Full Circle Capital launches offering of $25-par notes due 2020; proceeds to pay down debt

By Stephanie N. Rotondo

Phoenix, June 19 - Full Circle Capital Corp. has commenced a public offering of at least $30 million $25-par notes due June 30, 2020, the company said in a press release on Wednesday.

The deal was announced on May 2 and was originally slated to be just $25 million.

Ladenburg Thalmann & Co. Inc. and William Blair & Co. LLC are the joint bookrunning managers. Maxim Group LLC, MLV & Co. LLC and National Securities Corp. are lead managers.

Co-managers are C&Co/PrinceRidge LLC and Dominick & Dominick LLC.

Interest payments will be made on the 30th day of March, June, September and December, beginning Sept. 30. The notes become callable on June 30, 2016 at par plus accrued interest.

The company will list the notes on the Nasdaq Capital Market under the ticker symbol "FULLL."

Proceeds will be used to repay distribution notes and to pay down a credit facility.

Full Circle is a Rye Brook, N.Y.-based externally managed non-diversified closed-end management investment company.

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