Hercules Capital Closes Institutional Notes Offering of $325.0 Million 6.300% Unsecured Notes due 2031
Notes due 2031 Initially Assigned Ratings of Baa2 by Moody’s Investors Service and a BBB- by Fitch Ratings, Inc.
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules,” “Hercules Capital,” or the “Company”), today announced that it has closed an underwritten public offering of $325.0 million in aggregate principal amount of 6.300% notes due July 2031 (the “Notes”).
The Notes are unsecured and bear interest at a rate of 6.300% per year, payable semiannually, will mature on July 24, 2031, and may be redeemed in whole or in part at any time or from time to time at the Company’s option at par, plus a “make whole” premium, if applicable.
The Company expects to use the net proceeds from this offering to (i) repay outstanding unsecured indebtedness and/or secured indebtedness under its existing financing arrangements, (ii) fund investments in accordance with its investment objectives, and (iii) for other general corporate purposes.
