Stellus offers $30 million five-year $25-par notes; price talk 5.75%

By Stephanie N. Rotondo

Seattle, Aug. 16 – Stellus Capital Investment Corp. announced a $30 million registered public offering of $25-par notes due 2022 in a press release on Wednesday.

Price talk is 5.75%, a market source said.

Keefe Bruyette & Woods Inc. is the bookrunner. Janney Montgomery Scott LLC and Ladenburg Thalmann & Co. Inc. are acting as co-lead managers for the offering.

BB&T Capital Markets and Oppenheimer & Co. are co-managers.

There is a $4.5 million over-allotment option.

The notes will be listed on the New York Stock Exchange under the ticker symbol “SCA.”

Proceeds will be used to redeem the company’s 6.5% notes due 2019.

Stellus is a Houston-based business development company.

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