According to Bloomberg, Jefferies Finance plans to raise $500 million with a sale of seven-year notes.

Jefferies Finance intends to issue the senior securities for general corporate purposes, according to a person familiar with the offering. Jefferies Group, the New York- based investment bank, created the firm as a joint venture in 2004 with Babson Capital Management LLC and Massachusetts Mutual Life Insurance Co., according to a January regulatory filing.

The company originates and syndicates primarily secured loans to corporate borrowers. Loans are mostly originated through Jefferies’s investment banking business, with Babson Capital providing credit analytics and portfolio management services, according to the filing.

Read the entire story on Bloomberg.