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Saratoga Investment’s 6.75% $25-par notes due 2023 list on NYSE
By Stephanie N. Rotondo
Seattle, Dec. 29 – Saratoga Investment Corp.’s 6.75% $25-par notes due Dec. 30, 2023 listed on the New York Stock Exchange on Wednesday, according to a market source.
The ticker symbol is “SAB.”
The company initially sold $65 million of the notes on Dec. 13. On Dec. 21, the company said part of the $9.75 million over-allotment option had been exercised, bringing the total amount outstanding to $74.45 million.
The deal came in line with the 6.75% price talk, as previously reported.
Ladenburg Thalmann & Co. Inc., BB&T Capital Markets, Compass Point and William Blair & Co. were the joint bookrunners.
Interest is payable on a quarterly basis. The notes are redeemable on or after Dec. 21, 2019 at par plus accrued interest.
Proceeds will be used to repay all $61.79 million of outstanding 7.5% $25-par notes due 2020 (NYSE: SAQ) and for general corporate purposes.
Saratoga is a New York-based specialty finance company.
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