Saratoga Investment plans to price $25-par notes due 2020; proceeds to pay down debt

By Stephanie N. Rotondo

Phoenix, April 29 - Saratoga Investment Corp. is looking to sell at least $40.25 million of $25-par notes due May 31, 2020, the company said in a prospectus filed with the Securities and Exchange Commission on Monday.

Ladenburg Thalmann & Co. Inc., BB&T Capital Markets and William Blair & Co. are the joint bookrunning managers. Maxim Group LLC and National Securities Corp. are the lead managers.

Co-managers are C & Co./PrinceRidge LLC, Dominck & Dominick LLC and Gilford Securities.

Interest will be payable on the 15th day of February, May, August and November, beginning Aug. 15. The notes are redeemable on or after May 31, 2016.

The New York-based specialty finance company intends to list the notes on the New York Stock Exchange under the ticker symbol "SAQ."

Proceeds will be used to repay a credit facility and to make investments in middle market companies.

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