THL Credit Inc. (TCRD) announced that it has priced a public offering of 6.60 million shares of its common stock at a public offering price of $14.62 per share, raising approximately $96.5 million of gross proceeds.
BofA Merrill Lynch, Citigroup, Credit Suisse and Barclays are acting as joint book-running managers for this offering. Keefe, Bruyette & Woods, a Stifel Company, is acting as lead manager for this offering. BB&T Capital Markets, a division of BB&T Securities, LLC, JMP Securities and Maxim Group LLC are acting as co-managers for this offering.
The closing of the transaction is subject to customary closing conditions and the shares are expected to be delivered on or about June 24, 2013.
THL Credit said it has granted the underwriters an option to purchase up to an additional 990,000 shares of common stock, if any.
THL Credit noted that it expects to use the net proceeds of this offering to repay outstanding indebtedness under its revolving credit facility and for general corporate purposes, including working capital requirements.
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