By Wendy Van Sickle
Columbus, Ohio, April 11 – OFS Capital Corp. priced $43.75 million of $25-par notes due 2025 at par to yield 6 3/8%, according to a press release Wednesday evening.
Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC are the joint bookrunners.
B. Riley FBR Inc., BB&T Capital Markets, and National Securities Corp. are the lead managers.
The issue was downsized slightly from earlier talk of $45.75 million. There is a $6,562,500 greenshoe.
The notes may be redeemed in whole or in part at any time on or after April 30, 2020.
OFS Capital plans to use the net proceeds to fund investments in debt and equity securities in accordance with its investment objective, for other general corporate purposes and to repay outstanding debt under its revolving credit facility.
The notes will be listed on the Nasdaq Global Select Market under the ticker “OFSL.”
OFS Capital is a Chicago-based non-diversified management investment company.
| Issuer: | OFS Capital Corp.
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| Amount: | $43.75 million
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| Greenshoe: | $6,562,500
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| Description: | $25-par notes
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| Maturity: | April 30, 2025
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| Bookrunners: | Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC
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| Coupon: | 6 3/8%
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| Price: | Par of $25.00
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| Yield: | 6 3/8%
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| Call feature: | On or after April 30, 2020
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| Trade date: | April 11
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| Expected ratings: | Egan-Jones Ratings Co: A
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