The Company announced a private offering totaling $120.0 million in aggregate principal amount of $50.0 million 4.28% Notes due February 2025 and $70.0 million 4.31% Notes due June 2025.

The February Notes are unsecured and bear an interest rate of 4.28% per year, payable semiannually and will mature on February 5, 2025, and may be redeemed in whole or in part at any time or from time to time at the Company’s option at any time plus a premium, if applicable. The issuance of $50.0 million of the February Notes occurred on February 5, 2020.

The June Notes are unsecured and bear an interest rate of 4.31% per year, payable semiannually and will mature in June 2025, and may be redeemed in whole or in part at any time or from time to time at the Company’s option at any time plus a premium, if applicable. The issuance of $70.0 million of the June Notes is expected to occur in June 2020.

The Company expects to use the net proceeds from this offering (i) to pay down existing credit facilities, (ii) to fund investments in debt and equity securities in accordance with its investment objective, and (iii) for other general corporate purposes.
As of 2020-02-06, the Fund’s leverage was 51.5% and Debt Focused BDC Group leverage was 47.1%.