NewStar starts exchange offer for 7.25% Senior Notes due 2020

What are the details?

NewStar Financial, Inc. (Nasdaq:NEWS) announced today that it has commenced an offer to exchange all of its outstanding 7.25% Senior Notes due 2020, which are not registered under the Securities Act of 1933, as amended, for an equal principal amount of newly issued 7.25% Senior Notes due 2020 that have been registered under the Securities Act.

The Exchange Notes are substantially identical to the Original Notes, except that the Exchange Notes have been registered under the Securities Act and will not bear any legend restricting their transfer. The Exchange Notes will be issued only upon cancellation of a like amount of currently outstanding Original Notes. NewStar will not receive any proceeds from the exchange offer.

NewStar is making this exchange offer to satisfy its obligations under a registration rights agreement entered into when it issued the Original Notes. Any Original Notes not tendered for exchange in the exchange offer will remain outstanding and continue to accrue interest, and NewStar will have no further obligation to provide for the registration of such notes under the Securities Act, except under certain limited circumstances.

Pursuant to the terms of the exchange offer, NewStar will accept for exchange any and all Original Notes validly tendered and not withdrawn prior to 12:00 midnight, New York City time, on October 1, 2015, unless extended. Tenders of Original Notes may be withdrawn at any time prior to 12:00 midnight, New York City time, on the Expiration Date.

The terms of the exchange offer and other information relating to NewStar are set forth in a prospectus dated September 2, 2015.

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