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Saratoga Investment plans to sell $55 million of $25-par notes; proceeds to pay down debt
By Stephanie N. Rotondo
Seattle, Dec. 12 – Saratoga Investment Corp. is offering $55 million of $25-par notes with an $8.25 million greenshoe, the company said in a Form N-2 filed with the Securities and Exchange Commission on Monday.
Ladenburg Thalmann & Co. Inc., BB&T Capital Markets, Compass Point and William Blair & Co. are the joint bookrunners.
Interest will be paid on a quarterly basis. The notes are redeemable at par plus accrued interest.
The notes will be listed on the New York Stock Exchange.
Proceeds will be used to repay a portion of the company’s 2020 notes and for general corporate purposes.
Saratoga is a New York-based specialty finance company.
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