Harvest Capital Credit Corporation Prices a Note Issue – Updated

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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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