By Wendy Van Sickle
Columbus, Ohio, May 13 – Oxford Square Capital Corp. priced $70 million of 5.5% $25-par notes due July 31, 2028 (Egan-Jones: BBB), according to a news release.
There is a $10.5 million 30-day greenshoe.
Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc. and William Blair & Co. LLC are the joint bookrunners, and Compass Point Research & Trading, LLC, Incapital LLC and National Securities Corp. are the lead managers.
Interest will be payable on Jan. 31, April 30, July 31 and Oct. 31 of each year, beginning on July 31, 2021.
The notes will be callable in whole or in part at par at any time beginning May 31, 2024.
The company intends to list the notes on the Nasdaq Global Select Market under the symbol “OXSQG.”
Proceeds will be used mainly to fund investments in debt securities and CLO investments as well as for other general corporate purposes.
The closed-end, non-diversified management investment company is based in Greenwich, Conn.
| Issuer: | Oxford Square Capital Corp.
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| Issue: | $25 par notes
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| Amount: | $70 million
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| Greenshoe: | $10.5 million
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| Maturity date: | July 31, 2028
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| Lead managers: | Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc. and William Blair & Co. LLC are the joint bookrunners, and Compass Point Research & Trading, LLC, Incapital LLC and National Securities Corp.
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| Coupon: | 5.5%
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| Call option: | Beginning on May 31, 2024 at par
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| Pricing date: | May 13
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| Settlement date: | May 20
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| Rating: | Egan-Jones: BBB
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| Listing: | Nasdaq Global Select Market: OXSQG
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