Bookrunners BofA, Citigroup, Credit Suisse, RBC assist with offering
By Devika Patel
Knoxville, Tenn., Sept. 20 - THL Credit, Inc. said it priced a $74.68 million public offering of stock with an $11.2 million greenshoe. The offering was announced Wednesday.
The company will sell 5.3 million common shares at $14.09 per share. The price per share reflects a 3.76% discount to the Sept. 19 closing share price of $14.64.
The offering will be conducted by joint bookrunners Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and RBC Capital Markets, LLC.
Settlement is expected Sept. 25.
Proceeds will be used to repay $46.1 million of debt under the company's revolving credit facility and for general corporate purposes, including working capital. The company said in a 497 filing with the Securities and Exchange Commission that it intends to reborrow under its revolver to make investments in debt and equity securities of middle-market companies.
Boston-based THL Credit is an externally managed, non-diversified, closed-end management investment company. Its investment objective is to generate current income and capital appreciation through investments in privately negotiated debt and equity securities of middle-market companies.
| Issuer: | THL Credit, Inc.
|
| Issue: | Common stock
|
| Amount: | $74,677,000
|
| Greenshoe: | $11,201,550
|
| Shares: | 5.3 million
|
| Price: | $14.09
|
| Warrants: | No
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and RBC Capital Markets, LLC
|
| Co-managers: | BB&T Capital Markets and JMP Securities
|
| Announcement date: | Sept. 19
|
| Pricing date: | Sept. 20
|
| Settlement date: | Sept. 25
|
| Stock symbol: | Nasdaq: TCRD
|
| Stock price: | $14.64 at close Sept. 19
|
| Market capitalization: | $283.48 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
