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Fidus Investment prices offering of $55M notes due 2024

Fidus Investment Corp. priced its offering of notes due Nov. 1, 2024, with principal of $55.0 million.

The business development company granted underwriters a 30-day option to purchase an additional $8.3 million of the notes to cover overallotments. Interest payments will be made Feb. 1, May 1, Aug. 1 and Nov. 1 of each year, with the first payment to be made Feb. 1, 2020.

Fidus Investment can redeem the notes, in whole or in part, on or after Nov. 1, 2021, with the written notice to be sent not less than 30 days and not more than 60 days prior to redemption.

The offering is expected to close Oct. 16.

Keefe Bruyette & Woods is the sole book runner of the offering. BB&T Capital Markets, Janney Montgomery Scott, Ladenburg Thalmann, B. Riley FBR and Oppenheimer & Co. are the co-leads, while National Securities Corp. is the co-manager of the offering.