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Hercules Capital says latest Fed rate hike will raise investment income

Hercules Capital Inc. disclosed the estimated accretive impact to its debt investment portfolio attributed to the Federal Reserve's increase in the federal funds rate by 25 basis points.

The company projects that the increase would contribute about $2.6 million, or 3 cents per share, of net investment income per year, based on the basic weighted share outstanding as of Sept. 30.

With the increase expected to take effect in mid-December, the company anticipates no material impact to its net investment income in the fourth quarter. The expected benefit from the December rate hike is expected to materialize during the company's 2018 operating period.