PURCHASE, N.Y., Feb. 19, 2013 (GLOBE NEWSWIRE) -- MVC Capital, Inc. (NYSE:MVC) (the "Company"), a publicly traded business development company that makes private debt and equity investments, announced today that it priced a public offering of $70.0 million in aggregate principal amount of senior unsecured notes due 2023 (the "Notes"). The Notes will mature on January 15, 2023, 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 April 15, 2016. The Notes will bear interest at a rate of 7.25% per year payable quarterly on January 15, April 15, July 15, and October 15, of each year, beginning April 15, 2013. The closing of the transaction is subject to customary closing conditions, and the Notes are expected to be delivered on or about February 26, 2013. MVC intends to apply to list the Notes on the New York Stock Exchange under the trading symbol "MVCB." 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 the Notes to cover overallotments, if any. If the application is approved, the Company expects trading in the Notes to begin within 30 days from their original issue date.
MVC Capital, Inc. Prices Public Offering Of $70.0 Million 7.25% Senior Unsecured Notes Due 2023
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