Medley Management Inc. (“Medley”) (NYSE:MDLY), a credit-focused
asset management firm, today announced that Medley LLC, its
operating company, commenced a registered public offering of notes
that are expected to mature on January 30, 2024. Interest will be
payable quarterly. Medley LLC intends to use the net proceeds
from the offering to repay a portion of the outstanding
indebtedness under Medley LLC’s syndicated term loan and for
general corporate purposes.
FBR Capital Markets & Co., Incapital LLC, BB&T Capital
Markets, Compass Point Research & Trading, LLC, Ladenburg
Thalman & Co. Inc., William Blair & Company, L.L.C. and
JonesTrading Institutional Services LLC acted as joint book-running
managers. Boenning & Scattergood, Inc., Maxim Group LLC,
National Securities Corporation and Wedbush Securities Inc. acted
as co-manager.
A registration statement relating to these notes has been filed
with the Securities and Exchange Commission but has not yet become
effective. These notes may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes
effective.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sale of, the
notes referred to in this press release in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of such state or jurisdiction.
This offering is being made solely by means of a written
prospectus, which may be obtained from any of the following
investment banks: FBR Capital Markets & Co., Attention:
Syndicate Prospectus Department, 1300 North 17th Street, Suite
1400, Arlington, VA 22209, or by calling FBR Capital Markets &
Co. at (703) 312-9726 or by emailing FBR Capital Markets & Co.
at prospectuses@fbr.com; or Incapital LLC, Attention: Capital
Markets, 1800 North Military Trail, Suite 400, Boca Raton, FL
33431, or by emailing Incapital LLC at
prospectus_requests@incapital.com; or BB&T Capital Markets,
Attention: Syndicate Dept. at 901 East Byrd Street, 3rd Floor,
Richmond, VA 23219, or by emailing BB&T Capital Markets at
prospectusrequests@bbandtcm.com; or Compass Point Research &
Trading, LLC, 1055 Thomas Jefferson Street, NW, Suite 303,
Washington, DC 20007, or by emailing Compass Point Research &
Trading, LLC at syndicate@compasspointllc.com; or Ladenburg Thalman
& Co. Inc., 570 Lexington Avenue, 11th Floor, New York, NY
10022, or by emailing Ladenburg Thalman & Co. Inc. at
prospectus@ladenburg.com; or William Blair & Company, L.L.C.,
Attention: Clancey Burson, 222 W Adams, 29th floor, Chicago, IL
60606; or JonesTrading Institutional Services LLC, 780 3rd Avenue,
New York, NY 10017, or by calling JonesTrading Institutional
Services LLC toll-free at (800) 423-5933; or Boenning &
Scattergood, Inc., Attention: Michael Galantino, Managing Director,
200 Barr Harbor Dr. #300, Conshohocken, PA 19428, or by calling
Boenning & Scattergood, Inc. toll-free at (800) 883-1212; or
Maxim Group LLC, Attention: Eileen Citarrella, 405 Lexington
Avenue, 2nd Floor, New York, NY 10174 or by emailing Maxim Group
LLC at syndicates@maximgrp.com; or National Securities Corporation,
Attention: Kim E. Addarich, 410 Park Avenue, 14th floor, New York,
NY 10022; or Wedbush Securities Inc., 1000 Wilshire Blvd, Los
Angeles, CA 90017, or by emailing syndicate@wedbush.com, or by
calling (213) 688-8050. A copy of the prospectus may also be
obtained at no charge at the Securities and Exchange Commission’s
website at www.sec.gov.
ABOUT MEDLEY
Medley is a credit-focused asset management firm offering yield
solutions to retail and institutional investors. Medley's national
direct origination franchise, with over 85 people, is a premier
provider of capital to the middle market in the U.S. As of December
31, 2016, Medley had in excess of $5.3 billion of assets under
management in two business development companies, Medley
Capital Corporation (NYSE:MCC) and Sierra Income Corporation,
as well as private investment vehicles. Over the past 14 years, we
have provided in excess of $6 billion of capital to over
350 companies across 35 industries in North America.
Medley LLC, the operating company of Medley Management Inc., has
outstanding bonds which trade on the NYSE under the symbol
(NYSE:MDLX). Medley Capital Corporation (NYSE:MCC) has outstanding
bonds which trade on the NYSE under the symbols (NYSE:MCQ),
(NYSE:MCV), and (NYSE:MCX).
FORWARD-LOOKING STATEMENTS
Statements included herein may contain “forward-looking
statements”. 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 assumptions, risks and uncertainties, which
change over time. Actual results may differ materially from those
anticipated in any forward-looking statements as a result of a
number of factors, including those described from time to time in
filings by Medley and Medley LLC with the Securities and Exchange
Commission. Except as required by law, Medley and Medley LLC
undertake no duty to update any forward-looking statement made
herein. All forward-looking statements speak only as of the date of
this press release.
Investor Relations Contact: Sam AndersonHead of Capital Markets
& Risk 212-759-0777 Medley Management Inc. Medley LLC
Media Contact: Liz Bruce 212-498-9197 Fitzroy Communications
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