By James McCandless
San Antonio, Feb. 1 – Saratoga Investment Corp. priced another $17.33 million of its $25-par 6.25% notes due Aug. 31, 2025, according to a press release.
There is a $2.6 million greenshoe.
Ladenburg Thalmann & Co. Inc. and Compass Point Research & Trading, LLC are the joint bookrunners.
BB&T Capital Markets is the lead manager.
The company originally issued $40 million of the notes on Aug. 28, 2018.
The existing notes (NYSE: SAF) were down 55 cents to $24.80 at the Friday open with about 17,000 notes trading.
The notes are callable after three years.
Saratoga is a Florham Park, N.J.-based middle market investment company.
| Issuer: | Saratoga Investment Corp.
|
| Description: | Notes
|
| Amount: | $17,325,000
|
| Greenshoe: | $2.6 million
|
| Maturity: | Aug. 31, 2025
|
| Bookrunners: | Ladenburg Thalmann & Co. Inc. and Compass Point Research & Trading, LLC
|
| Lead manager: | BB&T Capital Markets
|
| Coupon: | 6.25%
|
| Call: | On or after Aug. 31, 2021 at par
|
| Pricing date: | Feb. 1
|
| Settlement date: | Feb. 5
|
| Distribution: | SEC registered
|
| Original issue: | $40 million issued Aug. 28, 2018
|
| Listing: | NYSE: SAF
|
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