By Devika Patel
Knoxville, Tenn., June 24 – Portman Ridge Finance Corp. sold a $28 million add-on to its 4.875% senior notes due April 30, 2026 in a private placement on June 23, according to an 8-K filed with the Securities and Exchange Commission. The deal priced on June 22.
Portman Ridge originally sold $80 million of the notes on April 30.
The company will use the proceeds to redeem in full its 6.125% senior unsecured notes due September 2022, 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.
|
| Amount: | $28 million reopening
|
| Description: | Senior notes
|
| Maturity: | April 30, 2026
|
| Coupon: | 4.875%
|
| Call: | Make-whole call
|
| Pricing date: | June 22
|
| Settlement date: | June 23
|
| Distribution: | Private placement
|
| Total outstanding: | $208 million, including $80 million issued on April 30
|
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