By Devika Patel
Knoxville, Tenn., Jan. 6 – Oxford Lane Capital Corp. offered further details, including the price and call price, about an $87 million sale of 5% notes due Jan. 31, 2027 (Egan-Jones: BBB) that priced at par on Wednesday, according to a press release.
There is a greenshoe for the underwriters for an additional $13 million of notes.
The notes have two years of call protection.
The $25-par notes are expected to be listed on the Nasdaq Global Select Market and trade under the symbol “OXLCZ.”
Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc. and William Blair & Co., LLC are joint bookrunners for the offering.
Proceeds will be used to acquire investments in accordance with the company’s investment objectives and strategies and/or for general working capital purposes.
Oxford Lane is a Greenwich, Conn.-based closed-end management investment company.
| Issuer: | Oxford Lane Capital Corp.
|
| Amount: | $87 million
|
| Greenshoe: | $13 million
|
| Issue: | Notes
|
| Maturity: | Jan. 31, 2027
|
| Bookrunners: | Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc. and William Blair & Co., LLC
|
| Co-managers: | InspereX LLC and Wedbush Securities Inc.
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| Coupon: | 5%
|
| Price: | Par of $25
|
| Yield: | 5%
|
| Call features: | In whole or in part at par after Jan. 31, 2024
|
| Trade date: | Jan. 5
|
| Settlement date: | Jan. 13
|
| Rating: | Egan-Jones: BBB
|
| Distribution: | SEC registered
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| Listing: | Nasdaq: OXLCZ
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| Cusip: | 691543888
|
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