By James McCandless
San Antonio, June 28 – CM Finance Inc. priced a $30 million offering of $25-par notes due 2023 with a coupon of 6.125% at par, according to a term sheet.
The offering was announced Wednesday morning.
Keefe, Bruyette & Woods, Inc. and Ladenburg Thalmann & Co. Inc. are the joint bookrunners.
There is a $4.5 million greenshoe.
The notes are callable after two years.
CM Finance plans to use the proceeds to repay outstanding debt under its 2017 revolving credit facility with UBS AG, London Branch.
Any remaining proceeds will be used to fund investments in middle market companies in accordance with the company’s investment objective and for other general corporate purposes.
The company intends to list the notes on the Nasdaq Global Select Market under the symbol “CMFNL.”
CM Finance is a New York City-based middle market business development company.
| Issuer: | CM Finance Inc.
|
| Description: | Notes
|
| Amount: | $30 million
|
| Greenshoe: | $4.5 million
|
| Maturity: | July 1, 2023
|
| Bookrunners: | Keefe, Bruyette & Woods, Inc. and Ladenburg Thalmann & Co. Inc.
|
| Co-lead manager: | Janney Montgomery Scott LLC
|
| Co-managers: | BB&T Capital Markets and Oppenheimer & Co. Inc.
|
| Coupon: | 6.125%
|
| Price: | Par of $25
|
| Call: | On or after July 1, 2020 at par
|
| Trade date: | June 27
|
| Settlement date: | July 2
|
| Distribution: | SEC Registered
|
| Listing: | Nasdaq: CMFNL
|
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