By Marisa Wong
Los Angeles, Oct. 22 – OFS Capital Corp. priced $50 million of 4.95% $25-par notes due 2028 (Egan-Jones: BBB) at par, according to an FWP filing with the Securities and Exchange Commission and a press release.
The offering includes a 30-day greenshoe for $5 million of additional notes.
Ladenburg Thalmann & Co. Inc. and Goldman Sachs & Co. LLC are the joint lead bookrunners. B. Riley Securities, Inc. and Oppenheimer & Co. Inc. are joint bookrunners.
The notes will be callable after two years.
The company has submitted an application for the notes to be listed on the Nasdaq Global Select Market under the trading symbol “OFSSH.”
The company intends to use proceeds to fully or partially pay down, retire or redeem some of its outstanding debt, which may include its 6.25% notes due Sept. 30, 2023, 5.95% notes due 2026 or borrowings under its secured revolving credit facility with BNP Paribas.
The closed-end externally managed non-diversified management investment company is based in Chicago.
| Issuer: | OFS Capital Corp.
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| Issue: | Notes
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| Amount: | $50 million
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| Greenshoe: | $5 million
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| Maturity: | Oct. 31, 2028
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| Bookrunners: | Ladenburg Thalmann & Co. Inc. and Goldman Sachs & Co. LLC (joint lead bookrunners); B. Riley Securities, Inc. and Oppenheimer & Co. Inc. (joint bookrunners)
|
| Coupon: | 4.95%
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| Price: | Par of $25
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| Yield: | 4.95%
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| Call option: | At par in whole or in part on or after Oct. 31, 2023
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| Pricing date: | Oct. 22
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| Settlement date: | Oct. 28
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| Rating: | Egan-Jones: BBB
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| Distribution: | SEC registered
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| Listing: | Nasdaq Global Select Market: OFSSH
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| Cusip: | 67103B704
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