NEW YORK, Jan. 12, 2017 (GLOBE NEWSWIRE) -- Medley Management Inc.(NYSE:MDLY), a credit-focused asset management firm, today announced that Medley LLC, its operating company, has priced an offering of $30,000,000 in aggregate principal amount of 7.25% notes due 2024 at a public offering price of 100% of the principal amount of notes. The final offering amount represents an increase in size from the previously announced amount of $25,000,000. The notes mature on January 30, 2024. Interest will be payable quarterly. Medley LLC has granted the underwriters a 30-day option to purchase up to an additional $4,500,000 in aggregate principal amount of notes to cover over allotments, if any. Medley LLC intends to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under Medley LLC’s syndicated term loan and for general corporate purposes.

The notes are expected to be listed on the New York Stock Exchange and to trade thereon within 30 days of the original issue date under the trading symbol “MDLQ”. FBR Capital Markets & Co., Incapital LLC, BB&T Capital Markets, Compass Point Research & Trading, LLC, Ladenburg Thalmann & Co. Inc., William Blair & Company, L.L.C. and JonesTrading Institutional Services LLC are acting as joint book-running managers. Boenning & Scattergood, Inc., Maxim Group LLC, National Securities Corporation and Wedbush Securities Inc. are acting as co-managers.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of, the notes referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

ABOUT MEDLEY

Medley is a credit-focused asset management firm offering yield solutions to retail and institutional investors. Medley's national direct origination franchise, with over 85 people, is a premier provider of capital to the middle market in the U.S. As of December 31, 2016, Medley had in excess of $5.3 billion of assets under management in two business development companies, Medley Capital Corporation (NYSE:MCC) and Sierra Income Corporation, as well as private investment vehicles. Over the past 14 years, we have provided in excess of $6 billion of capital to over 350 companies across 35 industries in North America.

Medley LLC, the operating company of Medley Management Inc., has outstanding bonds which trade on the NYSE under the symbol (NYSE:MDLX). Medley Capital Corporation (NYSE:MCC) has outstanding bonds which trade on the NYSE under the symbols (NYSE:MCQ), (NYSE:MCV), and (NYSE:MCX).