NEW YORK, Aug. 04, 2016 (GLOBE NEWSWIRE) -- Medley Management Inc. (“Medley”) (NYSE:MDLY), a credit-focused asset
management firm, today announced that Medley LLC, its operating company, has priced an offering of $25 million in aggregate
principal amount of 6.875% notes due 2026 at a public offering price of 100% of the principal amount. The notes mature on
August 15, 2026. Interest will be payable quarterly. Medley LLC has granted the purchasing agents a 30-day option to
purchase up to an additional $3.75 million 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.
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 “MDLX”. Incapital LLC, FBR Capital Markets & Co., JonesTrading Institutional Services and
Ladenburg Thalman & Co. Inc. acted as joint book-running managers. Compass Point Research & Trading, LLC acted as
co-manager.
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.
This offering is being made solely by means of a written prospectus, which may be obtained from of any of the following
investment banks: Incapital LLC, Attention: Capital Markets, 1800 North Military Trail, Suite 400, Boca Raton, FL 33431 or by
emailing Incapital at prospectus_requests@incapital.com; or FBR Capital Markets & Co., Attention: Syndicate Prospectus
Department, 1300 North 17th Street Suite 1400, Arlington, VA 22209 or by calling FBR Capital Markets & Co. (703)
312-9726 of emailing FBR Capital Markets & Co. at prospectuses@fbr.com; or Jones-Trading Institutional Services LLC, 780 3rd Avenue,
New York, NY 10017 or by calling JonesTrading Institutional Services LLC toll-free at (800) 423 -5933; or Ladenburg Thalman & Co.
Inc., 570 Lexington Avenue, 11th Floor, New York, NY 10022, or by emailing Ladenburg & Co. Inc. at prospectus@ladenburg.com. A copy of the prospectus may also be obtained at no charge at
the Securities and Exchange Commission’s website at www.sec.gov.
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 80 people, is a premier provider of capital to the middle market in the U.S.
Medley has over $5 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 300 companies across 35 industries in North America.
FORWARD-LOOKING STATEMENTS
Statements included herein may contain “forward-looking statements”. Statements other than statements of historical facts
included in this press release may constitute forward-looking statements and are not guarantees of future performance or results
and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from
those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time
in filings by Medley and Medley LLC with the Securities and Exchange Commission. Except as required by law, Medley and Medley LLC
undertake no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of
this press release.
Investor Relations Contact:
Sam Anderson
212-759-0777
Head of Capital Markets & Risk Management
Medley Management Inc.
Medley LLC
Media Contact:
Liz Bruce
212-498-9197
Fitzroy Communications