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Hercules Capital Closes Institutional Notes Offering of $300.0 Million 5.350% Unsecured Notes due 2029

HCXYHTGC
  • Hercules Capital, Inc. closed an underwritten public offering of $300.0 million in 5.350% notes due February 2029.
  • The notes received initial assigned ratings of Baa2 by Moody's Investors Service & BBB- by Fitch Ratings, Inc.
  • The unsecured notes bear interest at 5.350% per year payable semiannually & mature on February 10, 2029.
  • The company may redeem the notes in whole or in part at any time at par plus a make whole premium if applicable.
  • Net proceeds are expected to fund investments, repay outstanding secured indebtedness, & cover other general corporate purposes.
  • Goldman Sachs & Co. LLC, SMBC Nikko Securities America, Inc., & MUFG Securities Americas Inc. acted as joint book-running managers.
  • Citizens JMP Securities, LLC, DZ Financial Markets LLC, RBC Capital Markets, LLC, Synovus Securities, Inc., & Zions Direct, Inc. served as co-managers.
  • Hercules Capital is a specialty finance company focused on senior secured venture growth loans to technology & life sciences companies since December 2003.
  • Hercules has committed over $25 billion to more than 700 companies & trades on the NYSE under the ticker symbol "HTGC".
  • The company also manages investments for external parties through its registered subsidiary, Hercules Adviser LLC.