Capital Southwest issues $230M 5.125% convertible notes due 2029

CAPITAL SOUTHWEST CORP

Issued $230M aggregate principal of 5.125% Convertible Notes due 2029, including full over-allotment exercise.
Net proceeds of ~$222.7M to redeem 4.50% Notes due 2026, repay credit facility, and for general corporate purposes.
Initial conversion rate: 40 shares per $1,000 principal ($25.00 conversion price); company may redeem after Nov 20, 2027 if stock >=130% conversion price.
Notes mature Nov 15, 2029; interest payable quarterly beginning Feb 15, 2025.
Notes are unsecured, rank pari passu with existing unsubordinated debt, structurally subordinated to subsidiary obligations.

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