First Eagle Alternative Capital BDC Prices Baby Bonds

The previously announced baby bonds from business development company First Eagle Alternative Capital BDC (FCRD) has been priced.

The issue prices at a 5.00% coupon. The coupon would seem to be on the very lite side–but you know there are buyers who will buy it (I won’t be one of them).

The issue is rated BBB- by Egan Jones.

The issue will trade in about a week–there will be no OTC grey market trading so those that can’t wait will need to be contact with their broker.

The pricing term sheet is here.

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  1. BOSTON, May 19, 2021 (GLOBE NEWSWIRE) — First Eagle Alternative Capital BDC, Inc. (FCRD) (“First Eagle Alternative Capital BDC” or the “Company”), a direct lender to middle market companies, today announced that it will redeem all of its outstanding 6.75% Notes due 2022 (the “2022 Notes”), at a redemption price of 100% of the outstanding principal amount of the 2022 Notes, plus accrued and unpaid interest to, but excluding, the date of redemption, June 21, 2021, of approximately $0.38 on each $25 principal amount if redeemed on June 21, 2021.
    The 2022 Notes are currently traded on the New York Stock Exchange under the symbol “FCRZ” (CUSIP No. 26943B308).

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