Triangle Capital calls $69 million 7% $25-par senior notes due 2019

By Toni Weeks

San Luis Obispo, Calif., May 18 – Triangle Capital Corp. issued a call to redeem its outstanding $69 million of 7% $25-par senior notes due March 15, 2019, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed on June 22 at a redemption price of $25.00 per note plus accrued interest.

“We are very pleased that our recently announced $300 million credit facility affords us the flexibility to redeem our 7% notes, thereby creating considerable savings in interest expenses while maintaining a comfortable level of liquidity,” chief financial officer Steven C. Lilly said in a press release.

The company closed on the new senior credit facility on March 4.

The specialty finance company is based in Raleigh, N.C.

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