RALEIGH, N.C., Oct. 16, 2012 (GLOBE NEWSWIRE) -- Triangle Capital Corporation (NYSE:TCAP) (the "Company") today announced that it has priced an underwritten public offering of $70.0 million in aggregate principal amount of 6.375% senior unsecured notes due 2022 (the "Notes"). The Notes will mature on December 15, 2022, 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 December 15, 2015. The Notes will bear interest at a rate of 6.375% per year payable quarterly on March 15, June 15, September 15 and December 15 of each year, beginning December 15, 2012. The Company has also granted the underwriters a 30-day option to purchase up to an additional $10.5 million in aggregate principal amount of Notes to cover over-allotments, 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, Incorporated, Raymond James and Associates, Inc., BB&T Capital Markets, a division of Scott & Stringfellow, LLC, Janney Montgomery Scott LLC, and Sterne, Agee & Leach, Inc. are acting as joint book-running managers of this offering and J.J.B. Hilliard, W.L. Lyons, LLC, Stephens Inc., and Wunderlich Securities LLC are acting as co-managers for this offering. The offering is expected to close on or about October 19, 2012, subject to customary closing conditions. The Company intends to list the Notes on The New York Stock Exchange and if the application is approved, expects trading in the Notes on The New York Stock Exchange to begin within 30 days from the original issue date under the ticker symbol "TCCA."This offering will be made pursuant to an effective shelf registration statement on Form N-2 that has been filed with the U.S. Securities and Exchange Commission. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained from Stifel, Nicolaus & Company, Incorporated, Attention: Equity Syndicate Department, One South Street, 15th Floor, Baltimore, MD 21202, by calling (443) 224-1988 or by email at SyndicateOps@stifel.com; or from Raymond James and Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716; or from BB&T Capital Markets, a division of Scott & Stringfellow, LLC, 901 East Byrd Street - Suite 300, Richmond, VA 23219, or by email at email@example.com; or from Janney Montgomery Scott LLC, Attention: Debt Capital Markets, 1801 Market Street, Philadelphia, 19103, by calling (215) 665-6170 or by email at firstname.lastname@example.org; or from Sterne Agee & Leach, Inc., 277 Park Avenue, 24th Floor, New York, NY 10172, by calling (212) 338-4708, sending a request via facsimile at (205) 414-6373 or by email at email@example.com. Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing. The prospectus supplement and prospectus contain this and other information about the Company and should be read carefully before investing. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the notes referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
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