By Wendy Van Sickle
Columbus, Ohio, March 9 – Oxford Lane Capital Corp. priced $87 million of 6.75% 10-year $25-par notes (Egan-Jones: BBB), according to a news release.
There is a $13 million greenshoe
The notes will be offered at par and will be listed on the Nasdaq Global Select Market within 30 days of the issue date as “OXLCL.”
Ladenburg Thalmann & Co. Inc., B. Riley Securities, William Blair & Co. LLC, Incapital and National Securities Corp. are the joint bookrunners.
The notes are callable after three years.
The company plans to use the proceeds for acquiring investments in accordance with the company’s investment objective and strategies, for general working capital purposes and/or to redeem a portion of its $57 million of outstanding 7.5% series 2023 term preferred shares.
Oxford Lane is a Greenwich, Conn.-based closed-end management investment company.
| Issuer: | Oxford Lane Capital Corp.
|
| Issue: | $25 par notes
|
| Amount: | $87 million
|
| Greenshoe: | $13 million
|
| Maturity date: | March 31, 2031
|
| Coupon: | 6.75%
|
| Underwriters: | Ladenburg Thalmann & Co. Inc., B. Riley Securities, William Blair & Co. LLC, Incapital and National Securities Corp
|
| Call option: | In whole or in part at any time or from time to time on or after March 16, 2024
|
| Rating: | Egan-Jones: BBB
|
| Pricing date: | March 9
|
| Settlement date: | March 16
|
| Symbol: | Nasdaq: OXLCL
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
