EVANSTON, Ill., Jan. 30, 2018 (GLOBE NEWSWIRE) — Fidus Investment Corporation (Nasdaq:FDUS) (“Fidus†or the “Companyâ€) today announced the commencement of a registered public offering of unsecured notes due 2023 (the “Notesâ€), subject to market and other conditions. The Notes are expected to be listed, and trade, on The Nasdaq Global Select Market under the trading symbol “FDUSL†within 30 days from the original issue date. The interest rate and other terms of the Notes will be determined at the time of pricing of the offering.
The Company intends to use the net proceeds from this offering to repay outstanding indebtedness under its existing credit facility with ING Capital LLC, an affiliate of an underwriter in this offering. However, the Company may re-borrow under its credit facility and use such borrowings to invest in lower middle-market companies in accordance with its investment objective and strategies and for working capital and general corporate purposes. As of January 29, 2018, the Company had $50.0 million of indebtedness outstanding under its credit facility. The credit facility matures on June 16, 2019, and borrowings under the credit facility currently bear interest on a per annum basis equal to (i) the alternate base rate plus 2.5% or (ii) the applicable LIBOR, which varies depending on the period of the borrowing under the credit facility, plus 3.5%. The alternate base rate is equal to the greater of (i) prime rate, (ii) the federal funds rate plus 0.5% or (iii) the three-month LIBOR plus 1.0%.   Â
Keefe, Bruyette & Woods, A Stifel Company, is acting as sole bookrunner for the offering. Janney Montgomery Scott LLC and Oppenheimer & Co. Inc. are acting as co-leads for the offering. B. Riley FBR, Inc., BB&T Capital Markets, a division of BB&T Securities LLC, Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE AMERICAN:LTS), and ING Financial Markets LLC are acting as co-managers for the offering.
