Specialty finance company Hercules Capital Inc. plans to redeem about $100.0 million of its 6.25% notes due 2024.
The notes trade on the New York Stock Exchange under the ticker symbol HTGX.
The redemption price will be par $25.00 per note plus accrued and unpaid interest through, but excluding, the redemption date, April 2.
Hercules Capital intends to make additional redemptions on the notes throughout 2018, depending on its anticipated cash needs. The partial redemption will save the company around $6.6 million in annual interest and fee expense, or 8 cents net investment income per share, annually, based on the 83.8 million weighted average shares outstanding on Dec. 31, 2017.