BOSTON, May 18, 2021 (GLOBE NEWSWIRE) – First Eagle Alternative Capital BDC, Inc. (NASDAQ: FCRD) (“First Eagle Alternative Capital BDC” or the “Company”) has announced that it has priced a call public savings of an aggregate principal amount of $ 60,000,000 in the amount of 5.00% Notes due 2026 (the “Notes”). The Notes will mature on May 25, 2026 and may be redeemed in whole or in part at any time or from time to time at the option of the Company on or after May 25, 2023. The Notes will bear interest at a rate of 5.00% per payable quarterly on March 30, June 30, September 30 and December 30 of each year, commencing September 30, 2021. The Company has also granted the Underwriters a 30-day option to purchase up to $ 9,000,000 in additional aggregate principal amount of notes to cover overuse, if applicable. The Company expects to list the Notes on the New York Stock Exchange under the symbol “FCRX” within 30 days of issuance. The offering of the Notes will be made in accordance with the Company’s pre-registration statement, which has been filed and declared effective by the Securities and Exchange Commission. Keefe, Bruyette and Woods, A Stifel company, acts as responsible for the accounting of this offer. Oppenheimer & Co. Inc. and ING Financial Markets LLC are acting as co-managers for this offering.
Closing of the transaction is subject to customary closing conditions and the notes are expected to be delivered on or about May 25, 2021.
First Eagle Alternative Capital BDC intends to use the net proceeds of this offering, together with other available funds, to repay a portion of its debt, including the redemption of its outstanding 6.75% notes due. in 2022, in full, and the repayment of a portion of its revolving credit facility outstanding.
Investors are urged to carefully consider the investment objective, risks, charges and expenses of First Eagle Alternative Capital BDC before investing. The preliminary prospectus supplement dated May 18, 2021 and the accompanying prospectus dated December 11, 2020, each of which has been filed with the Securities and Exchange Commission, contain this and other information about First Eagle Alternative Capital BDC and should be read carefully before investing. .
Offer may only be made by way of a preliminary prospectus supplement and accompanying prospectus, copies of which can be obtained from: Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue, 4e Floor, New York, NY 10019 (telephone number 1-800-966-1559).
This communication does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of such securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or other jurisdiction.
About First Eagle Alternative Capital BDC, Inc.
First Eagle Alternative Capital BDC, Inc. (NASDAQ: FCRD) is a closed-end management investment company that elected to be treated as a business development company under the 1940 law. The Company’s investment is to generate both current income and capital appreciation, primarily through investments in privately traded debt and equity securities of mid-market companies. The Company is a direct lender to mid-market companies and invests primarily in directly issued senior secured loans, including unitranche investments. In some cases, the Company also provides second secured loans and subordinated or mezzanine debt investments, which may include an associated equity component such as warrants, preferred shares or other similar securities and securities. direct co-investments in shares. The company targets investments primarily in mid-market companies with annual EBITDA typically between $ 5 million and $ 25 million. The company is based in Boston, with additional original teams in Chicago, Dallas, Los Angeles and New York. The investment activities of the Company are managed by First Eagle Alternative Credit, LLC (the “Advisor” or the “Advisor”), an investment adviser registered under the Investment Advisers Act of 1940. For more information ‘information, please visit www.FEACBDC.com.
Statements made in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements reflect various assumptions of the company regarding expected results and do not are not guarantees of future performance. These statements can be identified by the use of words such as “prospect”, “believes”, “expects”, “potential”, “continue”, “may”, “will”, should, “seek”, ” approximately “,” Predicts “,” intends “,” plans “,” estimates “,” anticipates “or the negative version of these or other comparable words. These statements include, but are not limited to, projected financial performance, expected business development, planned share buybacks or lack of share buybacks, plans and expectations regarding future investments, plans and expectations regarding future offers of the Company, including takeover bids, anticipated dividends. and the future liquidity of the business. The accuracy of these statements involves known and unknown risks, uncertainties and other factors which, in certain respects, are beyond the control of management, including risk factors described from time to time in documents filed by the Company. Company with the Securities and Exchange Commission (the “SEC”). These factors include: introduction, withdrawal, success and timing of business initiatives and strategies; changes in political, economic or industrial conditions, the impact of COVID-19 and the availability of effective vaccines, the interest rate environment or financial and capital markets, which could result in changes in the value of our assets; the relative and absolute investment performance and operations of our investment advisor; the impact of increased competition; the impact of future acquisitions and divestitures; the unfavorable resolution of legal proceedings; our business outlook and the outlook for the companies in our portfolio; the impact, extent and timing of technological change and the adequacy of intellectual property protection; the impact of legislative and regulatory measures and reforms and of regulatory, monitoring or enforcement measures by government agencies concerning or advising us; the advisor’s ability to identify suitable investments for us and to monitor and administer our investments; our contractual agreements and our relationships with third parties; any future funding from us; the advisor’s ability to attract and retain highly talented professionals; fluctuations in foreign currency exchange rates; the impact of changes in tax legislation and, in general, our tax situation; our ability to exit a controlling investment in a timely manner; and the ability to fund the unfunded liabilities of Logan JV to the extent approved by each member of the Logan JV investment committee.
The Company assumes no obligation to update any forward-looking statements made herein. All forward-looking statements speak only as of the date of this press release.
First Eagle Alternative Credit, LLC
Michael Herzig (212) 829-3101
Stanton Public Relations and Marketing, LLC