Saratoga Investment Corp. Prices Public Offering of $85.0 Million 8.00% Notes Due 2031
Saratoga Investment Corp. priced a public offering of $85 million in 8.00% unsecured notes due 2031, with an option for underwriters to purchase an additional $12.75 million. The company intends to use the net proceeds to redeem its outstanding 6.00% notes due 2027, extending the debt maturity by four years while increasing the coupon rate by 200 basis points.
Key figures
- Deal Value Usd
- 85000000
- Rating
- BBB
- Maturity
- 2031
- Interest rate
- 8.00%
- Refinanced rate
- 6.00%
- Greenshoe amount
- 12750000
AI analysis
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