Hercules Capital prices $400M notes offering at 6.70% due 2029

Hercules Capital, Inc. (NYSE: HTGC) has priced an underwritten public offering of $400.0 million in aggregate principal amount of 6.70% unsecured notes due October 2029, according to a press release from the company.

The notes will bear interest at 6.70% per year, payable semiannually, and will mature on October 8, 2029. The notes may be redeemed in whole or in part at the company's option at par, plus a "make whole" premium if applicable. Closing is subject to customary conditions, with delivery and payment expected on October 8, 2026.

Hercules Capital said 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. are acting as joint book-running managers. Citizens JMP Securities, LLC, DZ Financial Markets LLC, RBC Capital Markets, LLC, R. Seelaus & Co., LLC, Synovus Securities, Inc., Wedbush Securities Inc. and Zions Direct, Inc. are serving as co-managers.

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