This is some nice low-cost-of-capital stuff and they are locking in for 15 year, and they can call these anytime after five years it they want. Over-allotment for another $11 million won't be a problem. This and the SBIC stuff is good to see.
As a side note, here something interesting:
If you look at the press release, you'll see a number of securities firms involved: Keefe, Bruyette & Woods, Inc., Deutsche Bank Securities Inc., Raymond James & Associates, Inc. and RBC Capital Markets, LLC., JMP Securities LLC, Oppenheimer & Co. Inc., Sterne, Agee & Leach, Inc. and Wunderlich Securities, Inc. are acting as co-managers for the offering.
Notice anything? First, most analysts from these firms have a good rating on FSC. Remember JMP yesterday? Notice also that the one analyst who downgraded FSC is not involved here. (He probably wanted a favor from FSC, and FSC said "no.") Notice also that Wells Fargo is also not in this list. Wells pumps the stuff they sell and will bash other stuff. Wall Street analysts are almost always biased. Upgrades/downgrades followed by offerings are, IMO, rarely coincidence. Now watch for Wells to be involved in something similar with one of the companies that they just pumped.