Harvest Capital Credit Corporation Prices a Note Issue – Updated
By: Tim McPartland,
Harvest Capital Credit Corporation (a BDC) (ticker:HCAP) has priced a note issue with a 7% coupon.
Remember that debt of BDC’s requires that the company maintain a asset coverage ratio of 200% on their debt. This gives an added level of safety to the offering.
This issue matures in 2020 so it is a relatively short duration.
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While we have not yet reviewed the financials and the portfolio of HCAP we will be doing so as we have an interest in a potential purchase of this issue.
Details of the issue are here.
Note that this is a debt issue and likely will not trade OTC prior to NASDAQ trading.
Thanks to Larry for the heads up on this issue.
We have purchased a position today–it is trading under the HCAPL symbol
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