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

  • THL Credit, Inc. (NASDAQ GS: TCRD)

    BB&T Capital Markets’ Financial Services Group completed a transaction for a Business Development Company (“BDC”) in the fourth quarter of 2014, helping to raise $45,000,000 in gross proceeds for our client. The Company has applied the fixed-rate, senior notes (“Notes”) for listing on the NASDAQ GS to trade under the symbol “TCRX.” The Company intends to use the net proceeds from this offering for general corporate purposes, which include investing in debt and equity securities, repayment of any outstanding indebtedness, acquisitions and other general corporate purposes. The Company has granted the underwriters an option to purchase up to an additional 270,000 Notes to cover over-allotments, if any.

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  • New Mountain Finance Corporation (NYSE: NMFC)

    BB&T Capital Markets’ Financial Services Group completed a transaction for a Business Development Company (“BDC”) in the fourth quarter of 2014, helping to raise $72,650,000 in gross proceeds for our client. The company intends to use the net proceeds from this offering to make investments in accordance with its objective and strategies, and for general corporate purposes, including debt repayment and other working capital needs. The Company has granted the underwriters a 30-day option to purchase an additional 750,000 shares at the public offering price to cover over-allotments, if any.

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  • Fidus Investment Corporation (NASDAQ GS: FDUS)

    Fidus Investment Corporation (NASDAQ GS: FDUS) BB&T Capital Markets’ Financial Services Group completed a transaction for a Business Development Company (“BDC”) in the third quarter of 2014, helping to raise $34,000,000 in gross proceeds for our client. The Company intends to use the net proceeds from this offering to make 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 300,000 shares at the public offering price to cover over-allotments, if any.

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  • MainStreet BankShares, Inc. (OTCBB: MREE)

    On August 25, 2014, MainStreet BankShares, Inc. (OTCBB: MREE) (“MainStreet”), a bank holding company, announced the signing of an agreement which calls for MainStreet to merge with American National Bankshares Inc. (Nasdaq: AMNB) (“American National”) in a transaction valued at approximately $24.2 million. Shareholders of MainStreet common stock will receive 0.482 shares of American National common stock and $3.46 in cash for each share of MainStreet they own. As of the close of business on August 22, 2014, the per share acquisition price equaled approximately $14.05, or approximately 97% of MainStreet’s June 30, 2014 book value and approximately 26.7x MainStreet’s last twelve months EPS. The per share acquisition price will fluctuate with the value of American National common stock. BB&T Capital Markets served as the exclusive financial advisor to MainStreet.

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  • Tidewater Finance Company

    On June 13, 2014, BB&T Capital Markets closed a $150 million subprime auto loan securitization for Tidewater Finance Company (“Tidewater”). The transaction provides Tidewater with fixed-rate, term financing for its loan portfolio at a very attractive pricing level. The proceeds of the transaction will be used to pay down Tidewater’s credit line and will create additional capacity for Tidewater’s future originations. This transaction was very well received by the market and was oversubscribed due to large investor demand. This transaction represents the third securitization in which BB&T Capital Markets has served as the sole-lead bookrunner for Tidewater since 2010.

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  • Triangle Capital Corporation (NYSE: TCAP)

    BB&T Capital Markets’ Financial Services Group completed a transaction for a Business Development Company (“BDC”) in the third quarter of 2014, helping to raise $132,773,250 in gross proceeds for our client. The Company intends to use the net proceeds from this offering to make investments within its objectives and strategies and for general working capital purposes. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 645,000 shares.

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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.