Capital Southwest Corp. priced an underwritten public offering of $65 million aggregate principal amount of 5.375% notes due Oct. 1, 2024.
Interest payments will be made on a semi-annual basis. The business development company can redeem the notes, in whole or in part, at any time before July 1, 2024. The offering is expected to close Sept. 27.
Capital Southwest plans to use net proceeds to repay debt under its credit facility, which is set to mature Dec. 21, 2023. It had $158.0 million of outstanding debt under its credit facility as of Sept. 23.
Raymond James & Associates Inc. and JMP Securities LLC are joint book-running managers of the offering. B. Riley FBR Inc., ING Financial Markets LLC, Ladenburg Thalmann & Co. Inc. and National Securities Corp. are the co-managers.
