NEW YORK, Oct. 20, 2020 /PRNewswire/ -- WhiteHorse
Finance, Inc. ("WhiteHorse Finance" or the "Company") (Nasdaq:
WHF) today announced that it has sold in a private offering,
$40.0 million aggregate principal
amount of its 5.375% Notes due 2025 (the "2025 Notes"). The 2025
Notes were offered only to qualified institutional buyers (as
defined in the Securities Act of 1933, as amended (the "Securities
Act")) in reliance on Section 4(a)(2) of the Securities Act. The
Company intends to use the net proceeds from this offering to
refinance and/or redeem existing debt and/or for general corporate
purposes.
The 2025 Notes are unsecured and bear interest at a rate of
5.375% per year, payable semiannually. This interest rate is
subject to increase (up to 6.375%) in the event that, subject to
certain exceptions, the 2025 Notes cease to have an investment
grade rating. The 2025 Notes will mature on October 20, 2025, unless redeemed, purchased or
prepaid prior to such date by the Company or its affiliates in
accordance with their terms.
The 2025 Notes have not and will not be registered under the
Securities Act, and the 2025 Notes may not be offered or sold
absent registration or an applicable exemption from the
registration requirements of the Securities Act.
About WhiteHorse Finance, Inc.
WhiteHorse Finance, Inc. is a business development company
that originates and invests in loans to privately held, lower
middle market companies across a broad range of industries. The
Company's investment activities are managed by its investment
adviser, H.I.G. WhiteHorse Advisers, LLC, an affiliate
of H.I.G. Capital, LLC ("H.I.G. Capital"). H.I.G.
Capital is a leading global alternative asset manager with
approximately $40 billion of capital under management*
across a number of funds focused on the small and mid-cap markets.
For more information about H.I.G. Capital, please
visit http://www.higcapital.com. For more information about
the Company, please
visit http://www.whitehorsefinance.com.
Forward-Looking Statements
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described from time
to time in filings with the Securities and Exchange Commission. The
Company undertakes no duty to update any forward-looking statement
made herein. All forward-looking statements speak only as of the
date of this press release.
* Based on total capital commitments managed by H.I.G. Capital
and affiliates.
Contacts
Stuart
Aronson
WhiteHorse Finance, Inc.
212-506-0500
saronson@higwhitehorse.com
Joyson Thomas
WhiteHorse Finance, Inc.
305-379-2322
jthomas@higwhitehorse.com
Sean Silva
Prosek Partners
646-818-9122
ssilva@prosek.com
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SOURCE WhiteHorse Finance, Inc.