UPDATE: Monday. It looks like we may still get a chance to buy HYHG. We had been trying to get a lower price, and finally gave up. Place a Limit Buy order for $66.22 and wait.
November 9, 2018. Whitehorse Finance is offering 2025 (6.5%) bonds next week. This is a high quality business development company. We will BUY as soon as it starts trading….you need to monitor this every day and place an order as soon as listed.
NEW YORK, Nov. 8, 2018 /PRNewswire/ — WhiteHorse Finance, Inc. (“WhiteHorse Finance” or the “Company”) (NASDAQ: WHF) announced today that it has commenced an underwritten offering of unsecured notes due 2025 (the “Notes”), subject to market and other conditions. The Company has submitted an application for the Notes to be listed and trade on The Nasdaq Global Select Market under the trading symbol “WHFBZ.” If approved for listing, the Company expects the Notes to begin trading within 30 days from the original issue date. The interest rate and other terms of the Notes will be determined at the time of pricing of the offering. In addition, the Company intends to grant the underwriters for the offering a 30-day option to purchase additional Notes representing 15% of the offered amount of Notes from the Company to cover over-allotments, if any.
The Company intends to use the net proceeds of the offering to fund investments in debt and equity securities in accordance with its investment objective and for other general corporate purposes. The Company also may use a portion of the net proceeds from the offering to repay outstanding indebtedness under its revolving credit facility with JPMorgan Chase Bank, N.A. (the “Credit Facility”). As of November 6, 2018, the Company has $155.0 million of indebtedness outstanding under the Credit Facility. Borrowings under the Credit Facility generally bear interest at an annual rate equal to LIBOR plus 2.75% and will mature on December 29, 2021.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS), BB&T Capital Markets, a division of BB&T Securities, LLC, and Janney Montgomery Scott LLC are acting as joint book-running managers for the offering.
Bull market ending?
There is a reasonably high possibility the bull market that started in 2009 has ended. However, we will likely not know for certain until we get into 2019, but therein lies the biggest problem. Waiting for verification requires a greater destruction of capital than we are willing to endure.
We have already taken steps to reduce equity risk and will do more on rallies that fail to re-establish the previous bullish trends in the market. If I am right, the more conservative stance will protect capital in the short-term. The reduced volatility allows for a logical approach to further adjustments as the correction becomes more apparent. (The goal is not to be forced into a “panic selling” situation.)
Who really wrote The Art of the Deal (Trump). Ghost-writer talks.
CNN gets blasted by former huge talk show host Larry King.
Ex-CNN talk show host Larry King mocked his former network in an interview with RT America on Tuesday, saying his past employer “stopped doing news a long time ago” to focus primarily on covering President Donald Trump.