TriplePoint Venture Growth’s 5.75% $25-par notes list on NYSE

By Stephanie N. Rotondo

Seattle, July 19 – TriplePoint Venture Growth BDC Corp.’s $65 million of 5.75% $25-par notes due 2022 began trading on the New York Stock Exchange on Wednesday, according to a market source.

The ticker symbol is “TPVY.”

The deal priced July 11, coming upsized from $55 million. Price talk was 5.875%.

Keefe Bruyette & Woods Inc., Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc. are the joint bookrunners. BB&T Capital Markets, Janney Montgomery Scott LLC and Compass Point Research & Trading LLC are the co-lead managers.

There is a $9.75 million over-allotment option.

Interest will be payable on the 15th day of January, April, July and October, beginning Oct. 15. The notes become redeemable on July 15, 2019 at par plus accrued interest.

Proceeds will be used to redeem the company’s $54.6 million outstanding 6.75% fixed-rate notes due 2020, plus accrued interest. Any remaining proceeds will be used to repay borrowings under a $200 million revolving credit facility.

TriplePoint is a Menlo Park, Calif.-based finance company.

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