BB&T Capital Markets Serves as a Co-Lead Manager on TriplePoint Venture Growth BDC Corp.’s Notes Offering
BB&T Capital Markets’ Financial Services Group completed a retail notes transaction for Triple Point Venture Growth BDC Corp., a Business Development Company (“BDC”), in the third quarter of 2017, helping to raise $65,000,000 in gross proceeds for our client. The notes will trade on the NYSE under the ticker “TPVY”. The notes pay an annual interest rate of 5.75% and mature in 5 years.
TPVG intends to use the net proceeds to redeem all of its outstanding 2020 Notes, and to repay borrowings under its credit facility with any remaining net proceeds.
About the Companies
TriplePoint Venture Growth BDC Corp. is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. TPVG’s investment objective is to maximize its total return to stockholders primarily in the form of current income and capital appreciation by primarily lending to venture growth stage companies focused in technology, life sciences and other high growth industries backed by TPVG’s select group of leading venture capital investors.
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.