trending Market Intelligence /marketintelligence/en/news-insights/trending/3AQZY0ORZk79u_ntY8TjAw2 content esgSubNav
In This List

Investcorp Credit Management BDC prices $15M notes offering

Blog

Banking Essentials Newsletter: January 11th Edition

Blog

Banking Essentials Newsletter December 21st Edition

Blog

The Road to Basel IV: Navigating the challenge facing European banks

Blog

Basel Framework- Utilizing data to analyze the capital position of European banks.


Investcorp Credit Management BDC prices $15M notes offering

Investcorp Credit Management BDC Inc., formerly CM Finance Inc., priced its offering of $15 million aggregate principal amount of 6.125% notes due 2023, which is expected to close Oct. 18.

Investcorp granted underwriters a 30-day option to purchase up to an additional $2.3 million aggregate principal amount of the notes to cover overallotments.

The company estimates net proceeds from the offering will be approximately $14.5 million, or $16.7 million if the overallotment option is fully exercised.

Net proceeds will be used to pay outstanding debt and any remaining portion will be used to fund investments in middle-market companies and for other general corporate purposes.

The notes will mature on July 1, 2023, and can be redeemed in whole or in part at the company's option on or after July 1, 2020.

Interest on the notes will be paid quarterly on Jan. 1, April 1, July 1 and Oct. 1, starting Jan. 1, 2020.

Ladenburg Thalmann & Co. Inc., Janney Montgomery Scott LLC and BB&T Capital Markets are acting as book-running managers for the offering.