The February 2024 Notes were issued under the Base Indenture, as supplemented by the second supplemental indenture dated February 5, 2019 (the Second Supplemental Indenture). The February 2024 Notes will mature on February 15, 2024 and bear interest at a rate of 6.000%. The February 2024 Notes may be redeemed in whole or in part at any time or from time to time at our option on or after February 15, 2021. Interest on the February 2024 Notes is payable quarterly on February 15, May 15, August 15 and November 15 of each year, beginning May 15, 2019. The February 2024 Notes are listed on the NASDAQ Global Select Market under the trading symbol FDUSZ. As of December 31, 2019, the outstanding principal balance of the February 2024 Notes was $69.0 million.
The November 2024 Notes
In October 2019, we issued $55,000,000 in aggregate principal amount of the November 2024 Notes. On October 23, 2019, the underwriters exercised their option to purchase an additional $8.3 million in aggregate principal of the November 2024 Notes. The total net proceeds to us from the November 2024 Notes, including the exercise of the underwriters option, after deducting underwriting discounts of approximately $1.9 million and estimated offering expenses of $0.3 million, were approximately $61.1 million.
The November 2024 Notes were issued under the Base Indenture, as supplemented by the third supplemental indenture dated October 16, 2019 (the Third Supplemental Indenture, and together with the First Supplemental Indenture and the Second Supplemental Indenture, the Indenture). The November 2024 Notes will mature on November 1, 2024 and bear interest at a rate of 5.375%. The November 2024 Notes may be redeemed in whole or in part at any time or from time to time at our option on or after November 1, 2021. Interest on the November 2024 Notes is payable quarterly on February 1, May 1, August 1 and November 1 of each year, beginning February 1, 2020. The November 2024 Notes are listed on the NASDAQ Global Select Market under the trading symbol FDUSG. As of December 31, 2019, the outstanding principal balance of the November 2024 Notes was approximately $63.3 million.
For purposes of this description, any reference to the payment of principal of, or premium or interest, if any, on, the 2023 Notes, the February 2024 Notes and the November 2024 Notes will include additional amounts if required by the terms of such Notes.
As required by federal law for all bonds and notes of companies that are publicly offered, the debt securities are governed by a document called an indenture. An indenture is a contract between us and the financial institution acting as trustee on your behalf, and is subject to and governed by the Trust Indenture Act of 1939, as amended. The Trustee has two main roles. First, the Trustee can enforce your rights against us if we default. There are some limitations on the extent to which the Trustee acts on your behalf, see Events of Default for more information. Second, the Trustee performs certain administrative duties for us with respect to our debt securities.
The Indenture provides that any debt securities may be issued under the Indenture in one or more series. The Indenture does not limit the amount of debt securities that may be issued thereunder from time to time. Debt securities issued under the Indenture, when a single trustee is acting for all debt securities issued under the Indenture, are called the indenture securities. The Indenture also provides that there may be more than one trustee thereunder, each with respect to one or more different series of indenture securities. See Resignation of Trustee below for more information. At a time when two or more trustees are acting under the Indenture, each with respect to only certain series, the term indenture securities means the one or more series of debt securities with respect to which each respective trustee is acting. In the event that there is more than one trustee under the Indenture, the powers and trust obligations of each trustee will extend only to the one or more series of indenture securities for which it is trustee. If two or more trustees are acting under the Indenture, then the indenture securities for which each trustee is acting would be treated as if issued under separate indentures.
Except as described under Events of Default and Merger or Consolidation below, the Indenture does not contain any provisions that give you protection in the event we issue a large amount of debt or we are acquired by another entity.