Gladstone to redeem 7.125% series 2016 term preferreds via new issue

By Susanna Moon

Chicago, May 12 - Gladstone Capital Corp. said it will redeem all of its outstanding 7.125% series 2016 term preferred shares using proceeds of a new public offering.

The company plans to sell shares of its newly designated series 2021 term preferreds, according to a press release.

Proceeds also will be used to pay down the company's revolving line of credit and for other general corporate purposes.

Gladstone Capital is publicly traded business development company based in McLean, Va., that invests in debt and equity securities.

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