By Angela McDaniels
Tacoma, Wash., Nov. 16 – THL Credit Inc. priced $22 million of additional 6.75% $25-par notes due Dec. 30, 2022, according to a news release.
The company issued $35 million of the notes on Dec. 14, 2015. The total issue size is now $57 million.
The add-on has a $3 million greenshoe.
Keefe Bruyette & Woods Inc. is the bookrunner. Janney Montgomery Scott LLC and Sandler O’Neill & Partners, LP are the co-lead managers. BB&T Capital Markets and Wunderlich Securities Inc. are co-managers.
The notes are redeemable beginning Dec. 30, 2018 at par plus accrued interest.
THL Credit, a Boston-based business development company, expects to use the proceeds to repay outstanding debt under its revolving credit facility and term loan.
| Issuer: | THL Credit Inc.
|
| Securities: | Notes
|
| Amount: | $22 million add-on
|
| Greenshoe: | $3 million
|
| Maturity: | Dec. 30, 2022
|
| Bookrunner: | Keefe Bruyette & Woods Inc.
|
| Co-lead managers: | Janney Montgomery Scott LLC and Sandler O’Neill & Partners, LP
|
| Co-managers: | BB&T Capital Markets and Wunderlich Securities Inc.
|
| Coupon: | 6.75%, payable quarterly
|
| Price: | Par of $25
|
| Yield: | 6.75%
|
| Call option: | On or after Dec. 30, 2018 at par plus accrued interest
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 21
|
| Listing: | NYSE: TCRZ
|
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