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BlackRock Capital Investment offering convertible notes

BlackRock Capital Investment Corp. is offering $125 million in aggregate principal amount of senior unsecured convertible notes due 2022 in an underwritten public offering.

Its underwriters will be granted a 30-day option to purchase up to an additional $18.8 million of notes to cover overallotments.

Interest on the notes will be payable semiannually June 15 and Dec. 15 of each year, beginning Dec. 15. The notes are scheduled to mature June 15, 2022.

BlackRock Capital Investment intends to use the net proceeds of the offering to repay debt, including outstanding borrowings under its credit facility and for other general corporate purposes.

Morgan Stanley & Co. LLC, Bank of America Merrill Lynch, BMO Capital Markets, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities and HSBC Securities (USA) Inc. are acting as joint book-running managers for the offering.