Hercules Capital Locks In $325M Senior Notes at 6.300% Due 2031
HTGC sits 16% above its 52-week low of $13.7.
Summary
Hercules Capital priced $325 million of 6.300% senior notes due 2031, upsizing its debt raise from the $300 million offering earlier today. The notes were sold at 98.852% of par, yielding 6.573%.
Key Events · Financing and Capital Events · HTGC
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$325M Note Offering Priced
Hercules Capital priced $325 million aggregate principal amount of 6.300% Notes due 2031 at an issue price of 98.852%, yielding 6.573% to maturity.
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Upsized from Earlier $300M Deal
The offering was upsized by $25 million from the $300 million note offering priced earlier today, indicating strong investor demand.
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Use of Proceeds
Proceeds will be used for general corporate purposes, likely to fund new investment commitments and repay existing debt.
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Investment Grade Ratings
The notes are rated Baa2 (Stable) by Moody's and BBB- (Stable) by Fitch, reflecting the company's solid credit profile.
Analysis · HTGC · Unknown
Final terms are now set on a $325 million senior unsecured note offering, upsized from the $300 million deal priced earlier today. The notes carry a 6.300% coupon and mature in 2031, providing fresh capital to fund the company's lending operations. This offering is part of a broader debt-raising effort, following a $300 million note pricing earlier in the day, and reflects strong investor demand given the investment-grade ratings (Baa2/BBB-).
At the time of this filing, HTGC was trading at $15.94 on NYSE in the Unknown sector, with a market capitalization of approximately $3B. The 52-week trading range was $13.70 to $19.67. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.