Medley Management Inc. (“Medley”) (NYSE:MDLY), a credit-focused
asset management firm, today announced that Medley LLC, its
operating company, re-opened its registered public offering of
7.25% notes due 2024. The notes are listed on the New York Stock
Exchange and trade under the trading symbol “MDLQ”. Interest will
be payable quarterly beginning on April 30, 2017. The
purchase price of the notes includes accrued interest on the notes
from January 18, 2017 to, but not including, the date of delivery.
Medley LLC intends to use the net proceeds from the offering to
repay the remaining outstanding indebtedness under Medley LLC’s
syndicated term loan and for general corporate purposes.
FBR Capital Markets & Co., Incapital LLC,
BB&T Capital Markets, William Blair & Company, Compass
Point Research & Trading, LLC, Ladenburg Thalman & Co.
Inc., L.L.C. and JonesTrading Institutional Services LLC are acting
as joint book-running managers. Boenning & Scattergood,
Inc., National Securities Corporation, Maxim Group LLC and Wedbush
Securities Inc. are acting as co-managers.
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 William Blair & Company,
L.L.C., Attention: Clancey Burson, 222 W Adams, 29th floor,
Chicago, IL 60606; 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 JonesTrading Institutional Services
LLC, 757 3rd Avenue, 23rd Floor, 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 National Securities
Corporation, Attention: Marguerite Rogers, 410 Park Avenue, 14th
floor, New York, NY 10022; or Maxim Group LLC, Attention: Eileen
Citarrella, 405 Lexington Avenue, 2nd Floor, New York, NY 10174 or
by emailing Maxim Group LLC at syndicate@maximgrp.com; 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 15 years, we have provided capital to over 350
companies across 35 industries in North America. For
additional information, please visit Medley Management Inc. at
www.mdly.com.
Medley LLC, the operating company of Medley
Management Inc., has outstanding bonds which trade on the NYSE
under the symbols (NYSE:MDLX) and (NYSE:MDLQ). 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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