Oxford Lane greenshoe ups 6.75% $25-par notes to $100 million

By Wendy Van Sickle

Columbus, Ohio, March 23 – Underwriters for Oxford Lane Capital Corp.’s 6.75% 10-year $25-par notes (Egan-Jones: BBB) fully exercised the $13 million greenshoe, increasing the total deal size to $100 million, according to a filing with the Securities and Exchange Commission.

The company priced $87 million of the notes on March 9, as previously reported.

Ladenburg Thalmann & Co. Inc., B. Riley Securities Inc., William Blair & Co. LLC, Incapital LLC and National Securities Corp. are the joint bookrunners.

The notes are callable after three years.

The notes trade on the Nasdaq under the symbol “OXLCL.”

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.

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