By Stephanie N. Rotondo
Seattle, Aug. 16 – Stellus Capital Investment Corp. priced a $42.5 million registered public offering of 5.75% $25-par notes due 2022 on Wednesday, according to a press release.
Price talk was 5.75%, a market source said.
The deal size was increased from $30 million.
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.
There is a $6,375,000 over-allotment option, increased from $4.5 million.
The notes become redeemable on or after Sept. 15, 2022 at par plus accrued interest.
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.
| Issuer: | Stellus Capital Investment Corp.
|
| Securities: | Notes
|
| Amount: | $42.5 million
|
| Greenshoe: | $6,375,000
|
| Maturity: | Sept. 15, 2022
|
| Bookrunner: | Keefe Bruyette & Woods Inc.
|
| Lead managers: | Janney Montgomery Scott LLC and Ladenburg Thalmann & Co. Inc.
|
| Co-managers: | BB&T Capital Markets and Oppenheimer & Co.
|
| Coupon: | 5.75%
|
| Price: | Par of $25
|
| Yield: | 5.75%
|
| Talk: | 5.75%
|
| Call options: | On or after Sept. 15, 2022 at par plus accrued interest
|
| Pricing date: | Aug. 16
|
| Settlement date: | Aug. 21
|
| Expected listing: | NYSE: SCA
|
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