Fidus Investment Corporation announced the pricing of an underwritten public offering of $100 million aggregate principal amount of 6.750% notes due 2030. The notes will mature on March 19, 2030, and will bear interest at a rate of 6.750% per year, payable semi-annually. The offering is expected to close on March 19, 2025, subject to customary closing conditions.
The company intends to use the net proceeds from this offering to repay a portion of the outstanding borrowings under its senior secured revolving credit facility. As of March 11, 2025, Fidus had $125.0 million of outstanding indebtedness under this credit facility. This financing move aims to manage the company's debt profile and enhance its capital structure.
Fidus may re-borrow under the credit facility and use such borrowings to invest in lower middle-market companies, aligning with its investment objective and strategies. The proceeds will also be utilized for working capital and general corporate purposes, providing flexibility for future investment opportunities and operational needs.
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