Capital Southwest, a provider of financing to support the acquisition and growth of middle market businesses, will withdraw its voluntary redemption of $35 million in principal of the $77,136,175 in aggregate principal amount of issued and outstanding 5.95% notes due 2022, which were previously scheduled to be redeemed on April 3, 2020.
“While we believe our liquidity is strong, with approximately $176 million in undrawn capital commitments on our revolving credit facility, we believe that given the uncertainty that currently exists in the U.S. economy, the most prudent course of action is to postpone the optional redemption of a portion of our December 2022 notes to a time when more certainty exists in the market,” Bowen Diehl, CEO of Capital Southwest, said.
Capital Southwest is a Dallas-based business development company with approximately $312 million in net assets as of December 31, 2019. Capital Southwest is a middle market lending firm focused on supporting the acquisition and growth of middle market businesses with $5 million to $25 million investments across the capital structure, including first lien, unitranche, second lien, subordinated debt and non-control equity co-investments.
