By James McCandless
San Antonio, June 11 – Great Elm Capital Corp. sold a $40 million offering of $25-par notes (Egan-Jones: BBB) due June 30, 2024 at par with a coupon of 6.5%, according to a press release.
There is a $6 million greenshoe.
Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC are the joint bookrunners. Incapital LLC is a lead manager.
The notes are redeemable on or after June 30, 2021.
Great Elm plans to use the proceeds to make investments consistent with its investment objectives and for general corporate purposes.
The company plans to list the notes on the Nasdaq under the symbol “GECCN.”
Great Elm is a Waltham, Mass.-based middle market investment company.
| Issuer: | Great Elm Capital Corp.
|
| Description: | Notes
|
| Amount: | $40 million
|
| Greenshoe: | $6 million
|
| Maturity: | June 30, 2024
|
| Bookrunners: | Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC
|
| Lead manager: | Incapital LLC
|
| Coupon: | 6.5%
|
| Price: | Par of $25
|
| Yield: | 6.5%
|
| Call: | On or after June 30, 2021
|
| Pricing date: | June 11
|
| Settlement date: | June 18
|
| Rating: | Egan-Jones: BBB
|
| Distribution: | SEC registered
|
| Listing: | Nasdaq: GECCN
|
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