Hercules Technology Growth Capital Announces Intention to Partially Redeem its 7.00% Senior Unsecured Notes Due September 2019
November 04 2015 - 1:00PM
Business Wire
Hercules Technology Growth Capital, Inc. (NYSE:HTGC)(“Hercules”
or the “Company”), the leading specialty financing provider to
innovative venture growth stage companies backed by leading venture
capital firms, today announced it intends to redeem $40.0 million
(face value) of the $85.9 million in issued and outstanding
aggregate principal amount of the Company’s 7.00% Senior Unsecured
Notes due September 2019 (CUSIP No. 427096870) (the “Notes”), which
were issued pursuant to the indenture (the “Base Indenture”) dated
as of March 6, 2012, between the Company and U.S. National Bank
Association, as trustee, as supplemented by the second supplemental
indenture dated as of September 24, 2012 (together with the Base
Indenture, the “Indenture”). The partial redemption of the Notes
will result in interest expense savings if the Notes were otherwise
left outstanding through maturity, but will also accelerate the
amortization of certain underwriting fees and other debt issuance
costs resulting in an increase in related expenses in the period
the Notes are redeemed. Hercules currently intends to make
additional redemptions on the Notes throughout calendar year 2016,
depending on its anticipated liquidity position. The Company will
provide notice for, and complete all, redemptions in compliance
with the terms of the Indenture.
About Hercules Technology Growth Capital, Inc.
Hercules Technology Growth Capital, Inc. (NYSE: HTGC) is the
leading specialty finance company focused on providing senior
secured venture growth loans to high-growth, innovative venture
capital-backed companies in the technology, biotechnology, life
sciences, healthcare, and energy & renewable technology
industries. Since inception (December 2003), Hercules has committed
more than $5.5 billion to over 325 companies and is the lender of
choice for entrepreneurs and venture capital firms seeking growth
capital financing. Companies interested in learning more about
financing opportunities should contact info@htgc.com, or call
650.289.3060.
Hercules’ common stock trades on the New York Stock Exchange
under the ticker symbol "HTGC."
In addition to the Notes which trade on the NYSE under the
symbol “HTGY”, Hercules has two outstanding bond issuances of 7.00%
Senior Notes due April 2019 and 6.25% Notes due July 2024, which
trade on the NYSE under the symbols “HTGZ,” and “HTGX,”
respectively.
Forward-Looking Statements
The information disclosed in this press release is made as of
the date hereof and reflects Hercules most current assessment of
its historical financial performance. Actual financial results
filed with the Securities and Exchange Commission may differ from
those contained herein due to timing delays between the date of
this release and confirmation of final audit results. These
forward-looking statements are not guarantees of future performance
and are subject to uncertainties and other factors that could cause
actual results to differ materially from those expressed in the
forward-looking statements including, without limitation, the
risks, uncertainties, including the uncertainties surrounding the
current market volatility, and other factors the Company identifies
from time to time in its filings with the Securities and Exchange
Commission. Although Hercules believes that the assumptions on
which these forward-looking statements are based are reasonable,
any of those assumptions could prove to be inaccurate and, as a
result, the forward-looking statements based on those assumptions
also could be incorrect. You should not place undue reliance on
these forward-looking statements. The forward-looking statements
contained in this release are made as of the date hereof, and
Hercules assumes no obligation to update the forward-looking
statements for subsequent events.
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Hercules Technology Growth Capital, Inc.Michael Hara,
650-433-5578 HT-HNInvestor Relations and Corporate
Communicationsmhara@htgc.com
Hercules Capital (NYSE:HTGC)
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