BDC Hercules Capital to Sell Baby Bonds

Business development company Hercules Capital  (NASDAQ:HTGC) has announced the issuance of new baby bonds.  The issue has not yet been priced.

The new issue will have the normal terms, but the maturity is a bit further out than we prefer as it is in 2033.

The new issue will trade with a permanent ticker of HCXY when it begins trading in the next couple of weeks.

The company had last issued baby bonds on 4/23/2018 at a coupon of 5.25%–those bonds are now trading at $24.85.

The company has announced that they may use the proceeds to redeem the 6.25% 2024 issue which had partially been redeemed on 2 previous dates.

The preliminary prospectus can be read here.

 

3 thoughts on “BDC Hercules Capital to Sell Baby Bonds”

  1. If they are trying to buy back 6.25% issue, that would lead me to guess a rate of under 6%. Will shall see

  2. for those interested, QVCD (see new issues) is finally trading. $24.31 at present

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