Hercules Capital closes $325M notes offering due 2031

Hercules Capital, Inc. (NYSE: HTGC) has closed an underwritten public offering of $325.0 million in aggregate principal amount of 6.300% unsecured notes due July 2031, according to a press release from the San Mateo, Calif.-based company.

The notes bear interest at 6.300% per year, payable semiannually, and mature on July 24, 2031. The company retains the option to redeem the notes in whole or in part at any time at par, plus a "make whole" premium, if applicable.

Moody's Investors Service assigned the notes an initial rating of Baa2, while Fitch Ratings, Inc. assigned a BBB- rating.

The company stated it expects to use the net proceeds to repay outstanding unsecured and/or secured indebtedness under existing financing arrangements, fund investments in accordance with its investment objectives, and for general corporate purposes.

Goldman Sachs & Co. LLC, SMBC Nikko Securities America, Inc., and MUFG Securities Americas Inc. acted as joint book-running managers. Citizens JMP Securities, LLC, DZ Financial Markets LLC, RBC Capital Markets, LLC, R. Seelaus & Co., LLC, Synovus Securities, Inc., and Zions Direct, Inc. served as co-managers.

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