BOSTON, Nov. 09, 2015 (GLOBE NEWSWIRE) -- NewStar Financial, Inc. (Nasdaq:NEWS) ("NewStar" or the "Company") announced today the offering of $50 million aggregate principal amount of its senior notes due 2020 (the "Notes"). The Notes will be issued as additional notes under the same indenture as the Company’s $300 million of 7.25% Senior Notes due 2020 that were originally issued on April 22, 2015 (the “Existing Notes”), all of which remain outstanding. The Notes will be treated as a single class with the Existing Notes, and will have the same terms as and be fungible with the Existing Notes.
NewStar intends to use the proceeds of this offering, after the payment of fees and expenses, for general corporate purposes.
J.P. Morgan Securities LLC is acting as sole book-runner for the offering.
The Notes are being offered pursuant to a shelf registration statement filed with the Securities and Exchange Commission (“SEC”) and declared effective on November 2, 2015. A preliminary prospectus supplement and the accompanying base prospectus relating to the notes have been filed with the SEC. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies may also be obtained from J.P. Morgan Securities LLC at the following address: 383 Madison Avenue, New York, New York, 10179, or by calling 1-866-803-9204.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Forward-Looking Statements:
This press release includes "forward-looking statements", including statements regarding NewStar’s proposed offering of senior notes, which are statements other than statements of historical fact. These forward-looking statements involve a number of risks and uncertainties. There can be no assurance as to the completion, timing or size of the proposed offering. Among the important factors that could cause actual results to differ materially from those results indicated in the forward-looking statements include uncertainties relating to market conditions for corporate debt securities generally and for the securities of companies in our industry and for NewStar in particular.
Additional information about these and other risk factors can be found in NewStar's filings with the Securities and Exchange Commission, including Item 1A ("Risk Factors") of our 2014 Annual Report on Form 10-K , as amended.