OFS Credit plans $25-par five-year term preferred stock

By James McCandless

San Antonio, March 18 – OFS Credit Co., Inc. plans to price an offering of $25-par series A term preferred stock due 2024, according to a press release.

Ladenburg Thalmann & Co. Inc., BB&T Capital Markets, Incapital LLC and National Securities Corp. are the joint bookrunners.

Newbridge Securities Corp. is the co-manager.

The preferreds are redeemable after five years.

OFS plans to use the proceeds to acquire investments in accordance with its investment objectives and strategies and for general working capital purposes.

The company plans to list the preferreds on the Nasdaq Capital Market under the symbol “OCCIP.”

OFS is a Chicago-based non-diversified, closed-end management investment company.

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