Medley eyes up to $28.75 million more 7.25% $25-par seven-year notes

By Stephanie N. Rotondo

Seattle, Feb. 13 – Medley LLC is offering $25 million of its 7.25% $25-par notes due 2024 (NYSE: MDLQ), the company said in a form S-1 filed with the Securities and Exchange Commission on Monday.

There is a $3.75 million over-allotment option.

FBR Capital Markets is the bookrunner.

The company initially sold $30 million of the notes on Jan. 13. The exercise of a $4.5 million greenshoe brought the total amount originally outstanding to $34.5 million.

Interest is payable on a quarterly basis. The notes become redeemable on or after Jan. 30, 2020 at par plus accrued interest.

Proceeds will be used to repay a portion of outstanding amounts under a term loan facility and for general corporate purposes.

Medley is a New York-based externally managed, non-diversified closed-end management investment company.

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