NEW YORK, Dec. 4, 2020
/PRNewswire/ -- WhiteHorse Finance, Inc. ("WhiteHorse Finance"
or the "Company") (Nasdaq: WHF) today announced that it has sold
$20.0 million aggregate principal
amount of notes consisting of $10.0
million of 5.375% notes due 2026 (the "2026 Notes") and
$10.0 million of 5.625% notes due
2027 (the "2027 Notes", and together with the 2026 Notes, the
"Notes"). The Notes were issued in a privately placed follow-on
offering in connection with the $40.0
million in aggregate principal amount of 5.375% notes due
2025 that the Company issued on October
20, 2020.
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 Notes are all unsecured. The 2026 Notes bear interest at a
rate of 5.375% per year, and the 2027 Notes bear interest at a rate
of 5.625% per year. Interest on both series of Notes are payable
semiannually. The interest rates of each series are subject to an
increase of 1.0% in the event that, subject to certain exceptions,
such series of Notes cease to have an investment grade rating.
Unless the 2026 Notes or 2027 Notes are redeemed, purchased or
prepaid by the Company or its affiliates prior to their respective
maturity dates, the 2026 Notes will mature on December 4, 2026, and the 2027 Notes will mature
on December 4, 2027 in accordance
with their respective terms.
The Notes have not and will not be registered under the
Securities Act of 1933, as amended, and may not be offered or sold
absent registration or an applicable exemption from the
registration requirements thereof.
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 $42 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.