Newtek Business to redeem $40 million of 5.75% notes due 2024

By Mary-Katherine Stinson

Lexington, Ky., Nov. 29 – Newtek Business Services Corp. announced it will redeem $40 million of its $78.25 million 5.75% notes due 2024 (Cusip: 652526) on Dec. 29, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed at par plus accrued and unpaid interest to the redemption date.

Interest paid will equal $370,556 or approximately $0.23160 per each $25 of principal.

Interest will cease to accrue on and after the redemption date.

U.S. Bank National Association is the trustee.

The notes are held in book-entry form with the Depository Trust Co. and will be paid according to their procedures.

Newtek Business Services is a New York-based internally managed non-diversified closed-end management investment company.

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