MidCap Financial, a credit solutions firm focused on serving the middle market, has raised USD875 million through the issuance of its debut senior unsecured bond transaction, with the proceeds set to be used to refinance existing debt.
The transaction priced at the tight end of talk and was upsized by USD50 million as a result of the favorable outcome. JP Morgan Securities served as Lead Left Bookrunner. Joint Bookrunners included Apollo Global Securities, Citigroup, Deutsche Bank Securities, and Wells Fargo Securities.
David Moore, CFO of MidCap Financial Services, says: “The successful issuance of our bond offering is a significant benchmark for MidCap. The transaction was met with strong demand and is the most recent example of MidCap’s positive reception by a diverse and sophisticated investor community at all levels of our capital structure. The pricing on the transaction represents a meaningful savings over the debt it refinances and will bolster our competitive position in the markets we serve.”