Saratoga Investment launches unsecured notes offering, earns BBB rating

Corporate Action
โดย Seeking Alpha·US·Read original
Summary · why it matters

Saratoga Investment has commenced a registered public offering of unsecured notes and received an investment-grade BBB rating from Egan-Jones Ratings Company. The notes are expected to be listed on the NYSE and trade under the symbol SAX within 30 days of issuance. The company expects to use the net proceeds to redeem its outstanding 6% and 8% notes due 2027 and repay a portion of its indebtedness under the SPV financing credit facility with Valley National Bank. Lucid Capital Markets and Oppenheimer are serving as joint book-running managers.

Impact on stocks 2

Financials▲ · 2 stocks
Saratoga Investment Corp
SAR
▲ PositiveCapitalrelevance

Launches unsecured notes offering and receives investment-grade BBB rating, using proceeds to refinance debt.

Off-coverage companies 2

Egan-Jones Ratings CompanyPrivate± Mixed
relevance

Lucid Capital MarketsPrivate± Mixed
relevance

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