Capital Southwest Enters Into Debt Distribution Agreement for 5.95% December 2022 Notes
11 Junho 2018 - 5:01PM
Capital Southwest Corporation (“Capital Southwest,” “CSWC” or the
“Company”) (Nasdaq:CSWC), an internally managed business
development company focused on providing flexible financing
solutions to support the acquisition and growth of middle market
business, today announced it has entered into a Debt Distribution
Agreement for its 5.95% Notes due 2022 (the “Notes”)
(Nasdaq:CSWCL). Under the Debt Distribution Agreement, the Company
may offer for sale, from time to time, up to $50,000,000 in
aggregate principal amount of the Notes through B. Riley FBR, Inc.,
acting as CSWC’s sales agent. Sales of the Notes, if any, may be
made in negotiated transactions or transactions that are deemed to
be “at the market offerings”.
The Notes offered will be a further issuance of,
are fungible with, and rank equally in right of payment with, the
$57,500,000 aggregate principal amount of the existing Notes
issued. The Notes are listed on The Nasdaq Global Select Market,
and trade on The Nasdaq Global Select Market under the symbol
“CSWCL.” We intend to list the Notes offered hereby on The Nasdaq
Global Select Market under the same trading symbol. The Notes are
expected to trade “flat,” which means that purchasers in the
secondary market will not pay, and sellers will not receive, any
accrued and unpaid interest on the Notes that is not reflected in
the trading price.
The Notes will mature on December 15, 2022 and
may be redeemed in whole or in part at any time, or from time to
time, at Capital Southwest's option on or after December 15, 2019
upon not less than 30 days nor more than 60 days written notice by
mail prior to the date fixed for redemption thereof, at a
redemption price equal to 100% of the outstanding principal amount
of the Notes to be redeemed plus accrued and unpaid interest
payments otherwise payable thereon for the then-current quarterly
interest period accrued to the date fixed for redemption. The Notes
will bear interest at a rate of 5.95% per year, payable quarterly
on March 15, June 15, September 15, and December 15 of each
year.
About Capital Southwest
Capital Southwest Corporation (Nasdaq:CSWC) is a
Dallas, Texas-based, internally managed business development
company, with approximately $308 million in net assets as of March
31, 2018. Capital Southwest is a middle market lending firm focused
on supporting the acquisition and growth of middle market
businesses with $5 to $25 million investments across the capital
structure, including first lien, unitranche, second lien,
subordinated debt and non-control equity co-investments. As a
public company with a permanent capital base, Capital Southwest has
the flexibility to be creative in its financing solutions and to
invest to support the growth of its portfolio companies over long
periods of time.
Forward-Looking Statements
This press release contains historical
information and forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995 with respect
to future dividends, market conditions, and the business and
investments of Capital Southwest. Forward-looking statements are
statements that are not historical statements and can often be
identified by words such as “will,” “believe,” “expect” and similar
expressions and variations or negatives of these words. These
statements are based on management's current expectations,
assumptions and beliefs. They are not guarantees of future results
and are subject to numerous risks, uncertainties and assumptions
that could cause actual results to differ materially from those
expressed in any forward-looking statement. These risks include
risks related to changes in the markets in which Capital Southwest
invests, changes in the financial and lending markets, regulatory
changes, tax treatment and general economic and business
conditions.
Readers should not place undue reliance on any
forward-looking statements and are encouraged to review Capital
Southwest's Annual Report on Form 10-K for the year ended March 31,
2018 and subsequent filings with the Securities and Exchange
Commission for a more complete discussion of the risks and other
factors that could affect any forward-looking statements. Except as
required by the federal securities laws, Capital Southwest does not
undertake any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, changing circumstances or any other reason after the
date of this press release.
Investor Relations Contact:
Michael S. Sarner, Chief Financial
Officer214-884-3829
Capital Southwest (NASDAQ:CSWCL)
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