BB&T Capital Markets serves as a Joint-Bookrunner on Oxford Lane Capital Corporation’s Preferred Stock Offering
BB&T Capital Markets’ Financial Services Group completed a preferred stock transaction for Oxford Lane Capital Corporation, a Business Development Company (“BDC”), in the second quarter of 2017, helping to raise $68,235,375 in gross proceeds for our client. The preferred stock trades on the NasdaqGSM under the symbol “OXLCM”.
Oxford Lane Capital Corporation intends to use the net proceeds to redeem the 8.125% Series 2024 Term Preferred Stock. Total gross proceeds includes the exercise of the underwriters’ 30-day over-allotment option.
About the Companies
Oxford Lane Capital Corporation is a publicly-traded closed-end management investment company that has registered as an investment company under the Investment Company Act of 1940. It currently seeks to achieve its investment objective of maximizing total return by investing in securitization vehicles which, in turn, primarily invest in senior secured loans made to companies whose debt is rated below investment grade or is unrated.
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.