Gladstone eyes tap of 5.125% notes due 2026 via Raymond James

By Devika Patel

Knoxville, Tenn., March 5 – Gladstone Capital Corp. intends to conduct an add-on offering to its 5.125% notes due Jan. 31, 2026 (Egan-Jones: A-), according to a 424B2 filed with the Securities and Exchange Commission.

The company sold $100 million of the notes in a sale that priced on Dec. 8, 2020 and settled on Dec. 15. 2020. The notes were sold at par with a spread of Treasuries plus 474 basis points.

The notes feature a make-whole call at Treasuries plus 50 bps until Oct. 31, 2025 and a par call after that date.

Raymond James & Associates Inc. was the bookrunner.

Proceeds will be used to repay a portion of the borrowings under the company’s credit facility, for new investment opportunities and for other general corporate purposes.

Gladstone Capital is a McLean, Va.-based lower middle-market private equity company.

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