April 4 (Reuters) - Triangle Capital Corp:
* Triangle Capital CORPORATION ANNOUNCES SALE OF INVESTMENT PORTFOLIO AND SIMULTANEOUS EXTERNALIZATION TRANSACTION
* ‍BARINGS WILL MAKE INVESTMENT OF $100.0 MILLION IN NEWLY ISSUED SHARES OF COMPANY’S COMMON STOCK AT NET ASSET VALUE AT DEAL CLOSING​
* ‍COMPANY EXPECTS TO DISCONTINUE PAYING A QUARTERLY DIVIDEND STARTING WITH Q2 OF 2018​
* ENTERED INTO AN ASSET PURCHASE AGREEMENT WITH AN AFFILIATE OF BENEFIT STREET PARTNERS L.L.C.​
* ENTERED INTO A STOCK PURCHASE AND TRANSACTION AGREEMENT WITH BARINGS LLC
* IN ADDITION, BARINGS WILL MAKE AN INVESTMENT OF $100.0 MILLION IN NEWLY ISSUED SHARES OF COMPANY’S COMMON STOCK
* ‍BARINGS TO BECOME INVESTMENT ADVISER TO CO IN EXCHANGE FOR A PAYMENT BY BARINGS OF $85.0 MILLION, OR $1.78 PER SHARE
* BARINGS ALSO WILL MAKE AN INVESTMENT OF $100.0 MILLION IN NEWLY ISSUED SHARES OF COMPANY’S COMMON STOCK
* BARINGS’ TOTAL FINANCIAL COMMITMENT TO TRANSACTION IS $235.0 MILLION
* ON TRANSACTIONS CLOSING, COMPANY WILL LAUNCH A $50.0 MILLION ISSUER TENDER TO PURCHASE SHARES OF ITS COMMON STOCK
* ‍TRIANGLE WILL ANNOUNCE REDEMPTION OF CO’S 6.375% NOTES DUE DEC 15, 2022 WITH AMOUNT OUTSTANDING OF $80.5 MILLION​
* ‍TRIANGLE WILL ANNOUNCE REDEMPTION OF CO’S 6.375% NOTES DUE MARCH 15, 2022 WITH OUTSTANDING OF $86.25 MILLION​
* WILL SELL ITS DECEMBER 31, 2017 INVESTMENT PORTFOLIO TO FUNDS ADVISED BY BSP
* SALE OF INVESTMENT PORTFOLIO & $85.0 MILLION SHAREHOLDER PAYMENT REPRESENTS CASH CONSIDERATION OF $658.6 MILLION, OR ABOUT $13.80/SHARE Source text for Eikon: Further company coverage:
