7.50% unsecured notes due 2031
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Saratoga Investment Corp. Prices Public Offering of $100 Million 7.50% Notes Due 2031
Globenewswire· 2026-01-30 13:30
Core Viewpoint - Saratoga Investment Corp. has announced a public offering of $100 million in unsecured notes with a 7.50% interest rate, maturing in 2031, aimed at refinancing existing debt and enhancing its capital structure [1][5]. Offering Details - The offering consists of $100 million in aggregate principal amount of 7.50% unsecured notes due on February 6, 2031, with an option for the underwriters to purchase an additional $15 million [1][3]. - The notes will bear interest at a rate of 7.50% per year, payable quarterly starting May 31, 2026 [2]. - The offering is expected to close on February 6, 2026, subject to customary closing conditions [3]. Use of Proceeds - The net proceeds from the offering will be used to redeem the Company's outstanding 4.375% Notes due 2026 [5]. Credit Rating - The Company has received a private investment grade rating of "BBB+" from Egan-Jones Ratings Company, which is recognized as a Credit Rating Provider [4]. Company Overview - Saratoga Investment Corp. is a specialty finance company focused on providing customized financing solutions to U.S. middle-market businesses, primarily through senior and unitranche leveraged loans and mezzanine debt [9]. - The Company aims to generate attractive risk-adjusted returns through its debt and equity investments and is regulated as a business development company under the Investment Company Act of 1940 [10].