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Hercules Capital, 7.00% Senior Notes due 9/30/2019
Ticker Symbol: HTGY* CUSIP: 427096870 Exchange: NYSE
* NOTE: This security is no longer trading as of 2/24/2017
Security has been Called for: Friday, February 24, 2017
Jan 25, 2017 -- Hercules Capital, Inc. (NYSE:HTGC) today announced its intent to redeem 100% or approximately $110.4 million (face value) in remaining issued and outstanding aggregate principal amount of the Company's 7.00% Notes due 2019 (CUSIP No. 427096888 and 427096870), which were issued pursuant to the indenture dated as of March 6, 2012, between the Company and U.S. National Bank Association, as trustee, as supplemented by the second supplemental indenture dated as of September 24, 2012. The Notes trade on the New York Stock Exchange under the ticker symbols "HTGY" and "HTGZ." The redemption price will be par $25.00 per Note plus accrued and unpaid interest through, but excluding, the redemption date, February 24, 2017. The Notes should be presented and surrendered by mail or by hand at the office of the Paying Agent, U.S. Bank National Association, Corporate Trust Services, 111 Fillmore Avenue E, St. Paul, MN 55107. The settlement of the redemption is expected to occur on February 24, 2017. Questions related to the notice of redemption and related materials should be directed to U.S. Bank via telephone at 1-800-934-6802. The full retirement of the $110.4 million 2019 Notes, along with the closed 4.375% Convertible Senior Notes due 2022 on January 25, 2017, will save the Company approximately $2.8 million in annual interest expense (on a cost of funds basis), excluding the one-time acceleration expense of $1.5 million associated with the redemption of the 2019 Notes. The additional net of approximately $115.0 million will be used to fund investments in debt and equity securities in accordance with its investment objective and for working capital and other general corporate purposes. ____________ 11/18/2015 -- A QOL user has informed us that nearly half of their HTGY shares have been called for 12/18/2015. ____________ November 4, 2015 -- Hercules Technology Growth Capital, Inc. today announced it intends to redeem $40.0 million (face value) of the $85.9 million in issued and outstanding aggregate principal amount of the Company’s 7.00% Senior Unsecured Notes due September 2019 (CUSIP No. 427096870), which were issued pursuant to the indenture dated as of March 6, 2012, between the Company and U.S. National Bank Association, as trustee, as supplemented by the second supplemental indenture dated as of September 24, 2012 (together with the Base Indenture, the “Indenture”). The partial redemption of the Notes will result in interest expense savings if the Notes were otherwise left outstanding through maturity, but will also accelerate the amortization of certain underwriting fees and other debt issuance costs resulting in an increase in related expenses in the period the Notes are redeemed. Hercules currently intends to make additional redemptions on the Notes throughout calendar year 2016, depending on its anticipated liquidity position. The Company will provide notice for, and complete all, redemptions in compliance with the terms of the Indenture.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Hercules Capital, Inc., formerly Hercules Technology Growth Capital, Inc., 7.00% Senior Notes due 2019, issued in $25 denominations, redeemable at the issuer's option on or after 9/30/2015 at $25 per share plus accrued and unpaid interest, and maturing 9/30/2019. Interest distributions of 7.00% per annum ($1.75 per annum or $0.4375 per quarter) will be paid quarterly on 3/30, 6/30, 9/30 & 12/30 to holders of record on the record date which will be 3/15, 6/15, 9/15 & 12/15 respectively (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (HTGC)
IPO - 9/20/2012 - 3.00 Million Notes @ $25.00/note.
Link to IPO Prospectus
Previous Name: Hercules Technology Growth Capital, 7.00% Senior Notes due 9/30/2019 Changed: 2/25/2016
Market Value $75.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 400 Hamilton Ave., Suite 310, Palo Alto, CA 94301 |
| Main Phone Number |
650-289-3060 |
| Fax Number |
650-473-9194 |
| Investor Relations
Sally Borg
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650-289-3060
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Toll Free Phone Number |
Unknown |
| CEO - Manuel A. Henriquez |
CFO - Jessica Baron |
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