By James McCandless
San Antonio, Oct. 12 – OFS Capital Corp. priced $43.5 million of $25-par notes due Oct. 31, 2025 with a coupon at 6.5% at par, according to filings with the Securities and Exchange Commission.
The deal was announced Thursday morning, coming in above size talk of $35 million and matching talk for a coupon in the 6.5% area.
The underwriters have a 30-day $6,525,000 greenshoe.
Ladenburg Thalmann & Co. Inc., BB&T Capital Markets and Janney Montgomery Scott LLC are the joint bookrunners.
B. Riley FBR, Inc., Incapital LLC, National Securities Corp. and William Blair & Co. LLC are lead managers.
The notes are redeemable after two years.
OFS Capital plans to use the proceeds to fund investments in debt and equity securities in accordance with its investment objective and for other general corporate purposes.
The company plans to list the notes on the Nasdaq Global Select Market under the symbol “OFSSB.”
OFS Capital is a Chicago-based non-diversified management investment company.
| Issuer: | OFS Capital Corp.
|
| Description: | Notes
|
| Amount: | $43.5 million
|
| Greenshoe: | $6,525,000
|
| Maturity: | Oct. 31, 2025
|
| Bookrunners: | Ladenburg Thalmann & Co. Inc., BB&T Capital Markets and Janney Montgomery Scott LLC
|
| Lead managers: | B. Riley FBR, Inc., Incapital LLC, National Securities Corp. and William Blair & Co. LLC
|
| Coupon: | 6.5%
|
| Price: | Par
|
| Yield: | 6.5%
|
| Call: | On or after Oct. 31, 2020 at par plus accrued interest
|
| Pricing date: | Oct. 11
|
| Settlement date: | Oct. 16
|
| Rating: | Egan-Jones: A-
|
| Distribution: | SEC registered
|
| Listing: | Nasdaq: OFSSB
|
| Talk: | 6.5%
|
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