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Whitehorse Finance, Inc. Announces Closing of Offering of $40.0 Million Notes Due 2025
NEW YORK, Oct. 20, 2020 /PRNewswire/ -- WhiteHorse Finance, Inc. ("WhiteHorse Finance" or the "Company") (Nasdaq: WHF) today announced that it has sold in a
About this update from Whitehorse Finance, Inc.
[{"type":"text","content":"NEW YORK, Oct. 20, 2020 /PRNewswire/ -- WhiteHorse Finance, Inc. (\"WhiteHorse Finance\" or the \"Company\") (Nasdaq: WHF) today announced that it has sold in a private offering, $40.0 million aggregate principal amount of its 5.375% Notes due 2025 (the \"2025 Notes\"). The 2025 Notes were offered only to qualified institutional buyers (as defined in the Securities Act of 1933, as amended (the \"Securities Act\")) in reliance on Section 4(a)(2) of the Securities Act. The Company intends to use the net proceeds from this offering to refinance and/or redeem existing debt and/or for general corporate purposes. \nThe 2025 Notes are unsecured and bear interest at a rate of 5.375% per year, payable semiannually. This interest rate is subject to increase (up to 6.375%) in the event that, subject to certain exceptions, the 2025 Notes cease to have an investment grade rating. The 2025 Notes will mature on October 20, 2025, unless redeemed, purchased or prepaid prior to such date by the Company or its affiliates in accordance with their terms. \nThe 2025 Notes have not and will not be registered under the Securities Act, and the 2025 Notes may not be offered or sold absent registration or an applicable exemption from the registration requirements of the Securities Act. \nAbout WhiteHorse Finance, Inc.\nWhiteHorse Finance, Inc. is a business development company that originates and invests in loans to privately held, lower middle market companies across a broad range of industries. The Company's investment activities are managed by its investment adviser, H.I.G. WhiteHorse Advisers, LLC, an affiliate of H.I.G. Capital, LLC (\"H.I.G. Capital\"). H.I.G. Capital is a leading global alternative asset manager with approximately $40 billion of capital under management* across a number of funds focused on the small and mid-cap markets. For more information about H.I.G. Capital, please visit http://www.higcapital.com. For more information about the Company, please visit http://www.whitehorsefinance.com.\nForward-Looking Statements\nThis press release may contain \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results an...