Hercules Receives Investment Grade Credit Rating From Standard & Poor’s on Its Family of Unsecured Notes
April 28 2016 - 5:00AM
Business Wire
BBB- rating assigned to 6.25% Notes due July
2024 and 7.00% Notes due April and September 2019
Hercules Capital, Inc. (NYSE:HTGC) (“Hercules” or the “Company”)
today announced that Standard & Poor’s Ratings Services
(“S&P”) has assigned a BBB- rating to the following Hercules
unsecured notes: 6.25% Notes due July 2024; 7.00% Notes due April
2019; and, 7.00% Notes due September 2019. This rating will also
cover the additional $65.4 million in aggregate principal amount of
6.25% Notes due July 2024 which the Company expects to issue on May
2, 2016 pursuant to an underwritten public offering. S&P issued
a statement announcing the credit rating and stable outlook in
conjunction with the recent additional offering of the 6.25% Notes
due July 2024, and subsequently assigned a BBB- credit rating to
both the 7.00% Notes.
About Hercules Capital, Inc.
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules”) is the leading
and largest specialty finance company focused on providing senior
secured venture growth loans to high-growth, innovative venture
capital-backed companies in a broadly diversified variety of
technology, life sciences and sustainable and renewable technology
industries. Since inception (December 2003), Hercules has committed
$5.9 billion to 349 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
(NYSE) under the ticker symbol "HTGC."
In addition, Hercules has three outstanding bond issuances of
7.00% Notes due April 2019, 7.00% Notes due September 2019, and
6.25% Notes due July 2024, which trade on the NYSE under the
symbols “HTGZ,” “HTGY,” 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 SEC 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 SEC. 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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version on businesswire.com: http://www.businesswire.com/news/home/20160428005541/en/
Hercules Capital, Inc.Michael Hara, 650-433-5578 HT-HNInvestor
Relations and Corporate Communicationsmhara@htgc.com
Hercules Capital (NYSE:HTGC)
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