Hercules Capital, Inc. announced it has closed an upsized underwritten public offering of $400.0 million in aggregate principal amount of 6.700% notes due October 2029. The notes are unsecured, bear interest at 6.700% per year payable semiannually, mature on October 8, 2029, and may be redeemed at the company's option at par plus a make whole premium, if applicable. The notes were initially assigned ratings of Baa2 by Moody's Investors Service and BBB- by Fitch Ratings, Inc. Hercules expects to use the net proceeds to repay outstanding unsecured and/or secured indebtedness under its existing financing arrangements, fund investments in accordance with its investment objectives, and for other general corporate purposes. Goldman Sachs & Co. LLC, SMBC Nikko Securities America, Inc. and MUFG Securities Americas Inc. acted as joint book-running managers, with Citizens JMP Securities, LLC, DZ Financial Markets LLC, RBC Capital Markets, LLC, R. Seelaus & Co., LLC, Synovus Securities, Inc., Wedbush Securities Inc. and Zions Direct, Inc. acting as co-managers.
Hercules Capital, Inc.Hercules Capital closed an upsized $400M 6.700% notes offering, a financing event that repays existing debt and funds investments.
Zions Bancorporation