debt
confidence high
sentiment positive
materiality 0.70
Capital Southwest issues $350M 5.950% notes due 2030; refinances higher-rate debt
CAPITAL SOUTHWEST CORP
- Issued $350M of 5.950% notes due 2030 with net proceeds of ~$343.6M after discount and underwriting costs.
- Proceeds to redeem all outstanding 7.75% notes due 2028 and 3.375% notes due 2026.
- Also will repay a portion of borrowings under corporate credit facility and SPV facility.
- Notes are unsecured, rank pari passu with existing unsecured debt; interest payable semi-annually.
- Maturity September 18, 2030; callable at make-whole prior to August 18, 2030.
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