Daily News: February 28, 2012

Triangle Capital Prices Public Offering of $60MM Notes Due 2019


Triangle Capital Corporation announced that it has priced an underwritten public offering of $60 million in aggregate principal amount of 7.00% senior unsecured notes due 2019. The notes will mature on March 15, 2019, and may be redeemed in whole or in part at any time or from time to time at the company’s option on or after March 15, 2015.

The notes will bear interest at a rate of 7.00% per year payable quarterly on March 15, June 15, September 15 and December 15 of each year, beginning June 15, 2012. The company has also granted the underwriters a 30-day option to purchase up to an additional $9 million in aggregate principal amount of notes to cover overallotments, if any.

The company intends to invest the net proceeds of this public offering in lower middle-market companies in accordance with its investment objective and strategies, and for working capital and general corporate purposes.

Stifel, Nicolaus & Company, Janney Montgomery Scott, BB&T Capital Markets, a division of Scott & Stringfellow, and Sterne, Agee & Leach are acting as joint bookrunning managers of this offering. Robert W. Baird & Co. is acting as lead manager, and J.J.B. Hilliard, W.L. Lyons, Ladenburg Thalmann & Co. and Wunderlich Securities are acting as co-managers for this offering.

Triangle Capital Corporation is a specialty finance company organized to provide customized financing solutions to lower middle-market companies located throughout the United States.