By Devika Patel
Knoxville, Tenn., May 3 – Portman Ridge Finance Corp. settled a $100 million private placement of 4.875% five-year senior notes (Egan-Jones: BBB-) on April 30, according to a press release.
Proceeds will be used to redeem in full the company’s 6.125% senior notes due September 2022, to make investments in portfolio companies and for general corporate purposes.
Based in New York, Portman Ridge is a closed-end, externally managed, non-diversified management investment company.
| Issuer: | Portman Ridge Finance Corp.
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| Issue: | Senior notes
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| Amount: | $100 million
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| Maturity: | April 30, 2026
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| Coupon: | 4.875%
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| Call: | Make-whole call
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| Settlement date: | April 30
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| Rating: | Egan-Jones: BBB-
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| Distribution: | Private placement
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