By Toni Weeks
San Luis Obispo, Calif., April 29 - Stellus Capital Investment Corp. priced a $25 million public offering of 6.5% $25-par notes due 2019, the company said in a press release.
There is a $3.75 million over-allotment option.
Keefe, Bruyette & Woods, Inc., Janney Montgomery Scott LLC and Oppenhemier & Co. Inc. are the bookrunners.
Interest will be paid on the 15th day of February, May, August and November beginning Aug. 15.
The notes can be called on or after April 30, 2016 at par plus accrued interest.
Proceeds will be used to repay a portion of debt outstanding under the company's revolving credit facility.
Stellus is an externally managed, closed-end, non-diversified management investment company with offices in Houston, New York and Washington, D.C.
| Issuer: | Stellus Capital Investment Corp.
|
| Securities: | Notes
|
| Amount: | $25 million
|
| Greenshoe: | $3.75 million
|
| Maturity: | April 30, 2019
|
| Bookrunner: | Keefe, Bruyette & Woods, Inc.
|
| Co-managers: | Janney Montgomery Scott LLC and Oppenheimer & Co. Inc.
|
| Dividend: | 6.5%
|
| Price: | Par of $25.00
|
| Yield: | 6.5%
|
| Call option: | On or after April 30, 2016 at par plus accrued dividends
|
| Pricing date: | April 29
|
| Expected listing: | NYSE: SCQ
|
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