2023-04-11 18:34:14 ET
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Saratoga Investment ( NYSE: SAR ) on Tuesday priced the public offering of $50.0 million, 8.50% unsecured notes due 2028.
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The notes will mature on April 15, 2028.
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The notes may be redeemed in whole or in part at any time or from time to time at the company’s option on or after April 14, 2025.
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The notes will bear interest at a rate of 8.50% per year payable quarterly on February 28, May 31, August 31, and November 30 of each year, beginning May 31, 2023.
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The offering is expected to close on April 14, 2023.
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The underwriters have an option to purchase up to $7.5 million of notes.
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The notes are expected to be listed on the NYSE and will trade within 30 days of the original issue date under the symbol “SAZ”.
For further details see:
Saratoga Investment prices offering of $50M unsecured notes