Triangle Capital announces $75 million bond offering

Raleigh investment firm Triangle Capital announced a $75 million bond offering to expand its investment capital.

The bond offering unveiled Wednesday, which is expected to be completed this week, involves notes that mature in 2022 and have an interest rate of 6.375 percent.

The underwriters also have a 30-day option to purchase an additional $11.25 million in notes.

Triangle capital makes loans to midsized, privately owned businesses. It also takes a minority ownership stake in its portfolio companies.

As of Sept. 30, Triangle Capital had $84 million in cash. The company periodically boosts its investment capacity with stock and bond offerings.

Triangle Capital shares were trading at $21.55, down 43 cents, late Wednesday morning. The stock’s 52-week high is $28.94.