Carlyle Secured Lending, Inc. announced the pricing of an underwritten public offering of $300 million in aggregate principal amount of 6.750% unsecured notes due 2030. The notes are set to mature on February 18, 2030, and may be redeemed by the company at its option at the applicable redemption price. The offering is expected to close on October 18, 2024, subject to customary closing conditions.
The company intends to utilize the net proceeds from this offering primarily to repay approximately $190.0 million of its outstanding debt. This includes its revolving credit facility and existing 4.750% and 4.500% unsecured notes, all of which are scheduled to mature on December 31, 2024. This proactive debt management addresses near-term maturities and strengthens the balance sheet.
Beyond debt repayment, the remaining proceeds will be allocated to fund new investment opportunities and for other general corporate purposes. This financing move enhances CGBD's liquidity and provides capital for strategic growth initiatives within its middle-market lending focus, supported by a diversified syndicate of joint book-running managers.
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