Hercules Prices $129.3 Million Asset Backed Notes
November 05 2014 - 9:00AM
Business Wire
Hercules Technology Growth Capital, Inc. (NYSE: HTGC)
("Hercules" or the “Company”), the leading specialty finance
company focused on providing senior secured loans to venture
capital-backed companies in technology-related markets, including
technology, biotechnology, life science, and energy & renewable
technology industries, at all stages of development, announced
today that on November 4, 2014 Hercules Capital Funding Trust
2014-1, a newly-formed wholly owned subsidiary of Hercules, priced
$129.3 million of fixed-rate asset-backed notes (the ”Notes”). The
Notes were rated A(sf) by Kroll Bond Rating Agency, Inc. (“KBRA”).
The securitization is expected to close on November 13, 2014 and is
subject to customary closing conditions.
The Notes will be issued by Hercules Capital Funding 2014-1,
LLC, as Trust Depositor, Hercules Capital Funding Trust 2014-1, as
Issuer, and Guggenheim Securities, LLC, as Initial Purchaser. The
Notes will be backed by a revolving pool of senior loans made to
certain portfolio companies of the Company and secured by certain
assets of those portfolio companies. The underlying loans will
continue to be serviced by the Company. The securitization has an
18-month reinvestment period during which time principal
collections may be reinvested into additional eligible loans. The
fixed interest rate on the notes will be 3.524%. The Notes will
have a stated maturity date of April 16, 2021.
About Hercules Technology Growth Capital, Inc.
Hercules Technology Growth Capital, Inc. (NYSE: HTGC) is the
leading specialty finance company focused on providing senior
secured loans to venture capital-backed companies in
technology-related markets, including technology, biotechnology,
life science, and energy & renewable technology industries, at
all stages of development. Since inception (December 2003),
Hercules has committed more than $4.4 billion to over 290 companies
and is the lender of choice for entrepreneurs and venture capital
firms seeking growth capital financing.
Hercules’ common stock trades on the New York Stock Exchange
(NYSE) under the ticker symbol "HTGC."
In addition, Hercules has three outstanding bond issuances of
7.00% Senior Notes due April 2019, 7.00% Senior Notes due September
2019, and 6.25% Senior Notes due July 2024, which trade on the NYSE
under the symbols “HTGZ”, “HTGY,” and “HTGX,” respectively.
Companies interested in learning more about financing
opportunities should contact info@htgc.com, or call
650.289.3060.
Hercules Technology Growth Capital, Inc.Main, 650-289-3060
HT-HNinfo@htgc.comorMarket Street PartnersEd Keaney,
415-445-3238ekeaney@marketstreetpartners.com
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