Financial Services Group

The BB&T Capital Markets Financial Services Group provides community banks & thrifts, business development companies and other specialty finance companies with a full range of capabilities and services, including public and private equity and debt origination and issuance, buy- and sell-side merger & acquisition advisory, fairness opinions, valuations and other advisory services.

While much of our business is focused on middle-market clients, our extensive service platform regularly participates in transactions with some of the nation’s largest financial institutions.

 

Our Financial Services team raised more than $1.5 billion for business development groups and advised five banks on M&A transactions in a recent 12-month span

  • Monroe Capital Corporation (NasdaqGSM: MRCC)

    BB&T Capital Markets’ Financial Services Group completed a transaction for Monroe Capital Corporation, a Business Development Company (“BDC”), in the second quarter of 2017, helping to raise $51,750,000 in gross proceeds for our client.

    Monroe Capital Corporation intends to use the net proceeds of this offering to repay indebtedness, make future investments, and for general corporate purposes. Total gross proceeds includes the exercise of the underwriters’ 30-day over-allotment option.

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  • Oxford Lane Capital Corporation (NasdaqGSM: OXLC)

    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.

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  • Capitala Finance Corporation (NASDAQ: CPTA)

    BB&T Capital Markets’ Financial Services Group completed a transaction for Capitala Finance Corporation, serving as a co-manager on the $50mm Convertible Notes Offering (NASDAQ: CPTAG), and helping to raise $50mm of gross proceeds for our client.

    Capitala expects to use a portion of the net proceeds from the 6.00% Senior Notes due 2022, and the 5.75% Convertible Notes due 2022 offerings to redeem all of the outstanding indebtedness under the 7.125% 2014 Notes. On May 26, 2017, Capitala officially called the remaining $113.44mm in aggregate principal of the 2014 Notes, and will redeem them on June 25, 2017 at 100% of their principal amount ($25 per note), plus accrued and unpaid interest. Any net proceeds in excess of the outstanding indebtedness of the 2014 Notes will be used to repay borrowings under Capitala’s credit facility. Total gross proceeds of the Senior Notes includes the $5.0mm exercise of the underwriter’s 30 day overallotment option. Capitala also granted the underwriter’s a 30 day option to purchase an additional $7.50mm Convertible Notes to cover overallotments.

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  • Capitala Finance Corporation (NASDAQ: CPTA)

    BB&T Capital Markets’ Financial Services Group completed a transaction for Capitala Finance Corporation in the second quarter of 2017. BBTCM served as a Joint-Bookrunner on the $75mm Senior Notes Offering (NASDAQ: CPTAL), helping to raise $75mm of gross proceeds for our client.

    Capitala expects to use a portion of the net proceeds from the 6.00% Senior Notes due 2022, and the 5.75% Convertible Notes due 2022 offerings to redeem all of the outstanding indebtedness under the 7.125% 2014 Notes. On May 26, 2017, Capitala officially called the remaining $113.44mm in aggregate principal of the 2014 Notes, and will redeem them on June 25, 2017 at 100% of their principal amount ($25 per note), plus accrued and unpaid interest. Any net proceeds in excess of the outstanding indebtedness of the 2014 Notes will be used to repay borrowings under Capitala’s credit facility. Total gross proceeds of the Senior Notes includes the $5.0mm exercise of the underwriter’s 30 day overallotment option. Capitala also granted the underwriter’s a 30 day option to purchase an additional $7.50mm Convertible Notes to cover overallotments.

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  • Gladstone Investment Corporation (NYSE: GAIN)

    BB&T Capital Markets’ Financial Services Group completed a transaction for Gladstone Investment Corporation, a Business Development Corporation (“BDC”), in the second quarter of 2017, helping to raise $21,154,386 in gross proceeds for our client.

    Gladstone Investment Corporation intends to use the net proceeds from this offering to repay indebtedness, and for general corporate purposes. Total gross proceeds includes the exercise of the underwriters’ 30-day over-allotment option.

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  • Morgan Stanley (NYSE: MS)

    BB&T Capital Markets’ Financial Services Group completed a transaction in the first quarter of 2017, helping to raise $1 Billion in gross proceeds for our client.

    The Company intends to use the net proceeds from the offering for general corporate purposes.

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  • BlackRock 2022 Global Income Opportunity Trust (NYSE: BGIO)

    BB&T Capital Markets’ Financial Services Group completed a transaction for BlackRock 2022 Global Income Opportunity Trust (NYSE: BGIO) in the first quarter of 2017, helping to raise $210,000,000 in gross proceeds for our client.

    The Trust will invest the net proceeds of the offering in accordance with the Trust’s investment objective and policies. The Trust has given the Underwriters an option to purchase up to 3,060,481 additional common shares within 45 days of the date of this prospectus solely to cover over-allotments.

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  • Nuveen Credit Opportunities 2022 Target Term Fund (NYSE: JCO)

    BB&T Capital Markets’ Financial Services Group completed a transaction for Nuveen Investment Inc.’s Nuveen Credit Opportunities 2022 Target Term Fund (NYSE: JCO) in the first quarter of 2017, helping to raise $255,000,000 in gross proceeds for our client.

    The Fund will invest the net proceeds of the offering in accordance with the Fund’s investment objective and policies. The Fund has granted the underwriters a 45 day option to purchase up to 3,825,000 additional shares to cover over-allotments.

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  • BB&T Corporation (NYSE: BBT)

    On March 16, 2017, BB&T Capital Markets served as a joint-bookrunner for an offering of $1.35 billion fixed and floating rate senior notes due 2022 by Branch Banking & Trust Company.

    Proceeds from the offering are being used for general corporate purposes.

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  • Triangle Capital Corporation (NYSE: TCAP)

    BB&T Capital Markets’ Financial Services Group completed a transaction for Triangle Capital Corporation, a Business Development Company (“BDC”) in the first quarter of 2017, helping to raise $136,500,000 in gross proceeds for our client.

    Triangle Capital Corporation intends to use the net proceeds of this public offering to make additional investments in lower middle market companies in accordance with its investment objective and strategies, and for working capital and general corporate purposes. The Company has granted the underwriters a 30-day option to purchase an additional 1,050,000 shares at the public offering price to cover over-allotments.

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  • Morgan Stanley (NYSE: MS)

    On February 14, 2017, BB&T Capital Markets served as a co-manager for a $3 billion offering of floating rate senior notes due 2020 by Morgan Stanley.

    Proceeds from the offering are being used for general corporate purposes.

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  • Nuveen High Income November 2022 (NYSE: JPT)

    BB&T Capital Markets’ Financial Services Group completed a transaction for Nuveen Investment Inc.’s High Income November 2022 Target Term Fund (“JPT”) in the first quarter of 2017, helping to raise $162,500,000 in gross proceeds for our client.

    The Fund will invest the net proceeds of the offering in accordance with the Fund’s investment objective and policies as stated below. It is presently anticipated that the Fund will be able to invest substantially all of the net proceeds in accordance with the Fund’s investment objective and policies within approximately three months after the completion of the offering. The Fund has granted the underwriters an option to purchase up to 975,000 additional shares to cover over-allotments.

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  • BB&T Corporation (NYSE: BBT)

    On January 23, 2017, BB&T Capital Markets served as a joint-bookrunner for a $2.6 billion offering of fixed and floating rate senior notes due 2020 and 2022 by Branch Banking & Trust Company.

    Proceeds from the offering are being used for general corporate purposes.

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  • Medley LLC, a wholly owned subsidiary of Medley Management Inc. (NYSE: MDLY)

    BB&T Capital Markets’ Financial Services Group, serving as a Joint Bookrunning manager, completed an unsecured senior notes “baby bond” offering for Medley LLC, the operating company for Medley Management, in the first quarter of 2017. The underwriters helped to raise $30,000,000 in gross proceeds for our client. The notes will trade under the NYSE symbol of MDLQ.

    Medley LLC intends to use the net proceeds of this retail notes offering to repay a portion of the outstanding amounts under its Term Loan Facility. The Company has granted the underwriters a 30-day option to purchase additional notes worth $4.50 million in aggregate principal value to cover over-allotments.

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  • Barclays PLC (NYSE: BCS)

    On January 3, 2017, BB&T Capital Markets served as a co-manager for a two-tranche offering of $1.5 billion 3.684% senior notes and $750 million floating rate notes due 2023 by Barclays PLC.

    Proceeds from the offering are being used for general corporate purposes.

     

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  • Saratoga Investment Corporation

    BB&T Capital Markets’ Financial Services Group completed a transaction for Saratoga Investment Corporation, a Business Development Company, in the fourth quarter of 2016, helping to raise $65,000,000 in gross proceeds for our client.

    Saratoga Investment Corporation intends to use the net proceeds of this retail notes offering to fund the early redemption of its 7.50% Series 2020 Senior Notes. The Company has granted the underwriters a 30-day option to purchase additional notes worth $9.75 million in aggregate principal value to cover over-allotments.

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Our Areas of Expertise

Business Development Companies (BDCs)

Our group includes investment bankers involved with the industry since inception, knowledgeable retail and institutional brokers, bank lending, and industry-leading research coverage

Community Banks & Thrifts

We provide regulated financial institutions with a full suite of products and services, including equity and debt capital raising and merger and acquisition advisory, complemented by industry-leading community bank equity research and sales & trading.

Specialty Finance

Our commitment to specialty sectors includes, but is not limited to, insurance brokers, underwriters and service providers; specialty lenders; mortgage companies and financial management firms.

Bank Consolidation

Jake Savage and
David Wojdlya
Senior Managing Director and Managing DirectorFinancial Services GroupPlay The Video