Capitala Finance plans to redeem $113.4 million 7.125% $25-par notes

By Angela McDaniels

Tacoma, Wash., May 22 – Capitala Finance Corp. expects to redeem its $113.4 million of outstanding 7.125% $25-par notes due 2021, according to a company news release.

The company is offering convertible notes due 2022 and expects to use a portion of the proceeds, together with the proceeds from its recent offering of 6% $25-par notes due 2022, to redeem the 7.125% notes.

Any leftover proceeds from the convertibles offering will be used to repay borrowings under the company’s senior secured revolving credit facility.

Keefe, Bruyette & Woods is the bookrunner for the new offering.

Capitala Finance is a Charlotte, N.C.-based business development company.

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