Hercules Capital prices $325M notes offering at 6.300% due 2031

Hercules Capital, Inc. (NYSE: HTGC) has priced an underwritten public offering of $325.0 million in aggregate principal amount of 6.300% unsecured notes due July 2031, according to a press release.

The notes are expected to be delivered and paid for on July 24, 2026, subject to customary closing conditions. Interest will be paid semiannually, and the notes mature on July 24, 2031. Hercules Capital may redeem the notes in whole or in part at any time at par, plus a "make whole" premium, if applicable.

The company said it intends 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., and Zions Direct, Inc. are serving as co-managers.

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