TriplePoint Venture Growth offers $40 million of $25-par notes due 2020; proceeds to pay down debt

By Stephanie N. Rotondo

Phoenix, July 29 – TriplePoint Venture Growth BDC Corp. announced a $40 million offering of $25-par notes due 2020 in a prospectus filed with the Securities and Exchange Commission on Wednesday.

Keefe Bruyette & Woods Inc. and Deutsche Bank Securities Inc. are the joint bookrunning managers. Co-lead managers are BB&T Capital Markets, Janney Montgomery Scott LLC and Oppenheimer & Co.

The deal will include an over-allotment option of up to $6 million notes.

Interest will be payable on the 15th day of January, April, July and October, beginning Oct. 15.

The notes become redeemable in 2017 at par plus accrued interest.

The Menlo Park, Calif.-based business development company will list the notes on the New York Stock Exchange under the ticker symbol “TPVZ.”

Proceeds will be used to temporarily repay a portion of outstanding borrowings under a credit facility. The funds may also be used for investments and for general working capital purposes.

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