Business
WhiteHorse Finance, Inc. Closes $20.0 Million Follow-On Notes Offering
NEW YORK, Dec. 4, 2020 /PRNewswire/ -- WhiteHorse Finance, Inc. ("WhiteHorse Finance" or the "Company") (Nasdaq: WHF) today announced that it has sold $20.0
About this update from Whitehorse Finance, Inc.
[{"type":"text","content":"NEW YORK, Dec. 4, 2020 /PRNewswire/ -- WhiteHorse Finance, Inc. (\"WhiteHorse Finance\" or the \"Company\") (Nasdaq: WHF) today announced that it has sold $20.0 million aggregate principal amount of notes consisting of $10.0 million of 5.375% notes due 2026 (the \"2026 Notes\") and $10.0 million of 5.625% notes due 2027 (the \"2027 Notes\", and together with the 2026 Notes, the \"Notes\"). The Notes were issued in a privately placed follow-on offering in connection with the $40.0 million in aggregate principal amount of 5.375% notes due 2025 that the Company issued on October 20, 2020. \nThe Company intends to use the net proceeds from this offering to refinance and/or redeem existing debt and/or for general corporate purposes. \nThe Notes are all unsecured. The 2026 Notes bear interest at a rate of 5.375% per year, and the 2027 Notes bear interest at a rate of 5.625% per year. Interest on both series of Notes are payable semiannually. The interest rates of each series are subject to an increase of 1.0% in the event that, subject to certain exceptions, such series of Notes cease to have an investment grade rating. \nUnless the 2026 Notes or 2027 Notes are redeemed, purchased or prepaid by the Company or its affiliates prior to their respective maturity dates, the 2026 Notes will mature on December 4, 2026, and the 2027 Notes will mature on December 4, 2027 in accordance with their respective terms. \nThe Notes have not and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold absent registration or an applicable exemption from the registration requirements thereof. \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 $42 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.whitehorsefinanc...