BB&T Capital Markets Serves as a Joint Bookrunner on Medley LLC’s Retail Notes Offering
BB&T Capital Markets’ Financial Services Group, serving as a Joint Bookrunning manager, completed an unsecured senior notes “baby bond” offering for Medley LLC, the operating company for Medley Management, in the first quarter of 2017. The underwriters helped to raise $30,000,000 in gross proceeds for our client. The notes will trade under the NYSE symbol of MDLQ.
Medley LLC intends to use the net proceeds of this retail notes offering to repay a portion of the outstanding amounts under its Term Loan Facility. The Company has granted the underwriters a 30-day option to purchase additional notes worth $4.50 million in aggregate principal value to cover over-allotments.
About the Companies
Medley Management the parent company of Medley LLC, is an asset management firm offering yield solutions to retail and institutional investors. The Company is focused on credit-related investment strategies, primarily originating senior secured loans to private middle market companies in the United States that have revenues between $50 million and $1 billion.
BB&T Capital Markets Financial Services Group has extensive experience providing community banks and thrifts, business development companies, and other specialty finance companies with a full range of public and private capital raising solutions, M&A advisory, fairness opinions and other strategic advisory services.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.