Business development company Gladstone Investment (GAIN) is selling a new issue of notes with a maturity on 8/1/2028
The notes will have a early redemption option for the company starting 8/1/2025.
GAIN has 2 other baby bond issues currently outstanding which can be seen here.
The preliminary prospectus is here.
Thanks to J for posting this.
Gary,
My mistake. I pulled up SA and it was showing like 12.97 on one of them. I had no idea SA was so out of whack. Now I can understand your and 2WR confusion with my post
I followed the link and the others are over 9% and 50% off par what does that bode for this offering?
I know others here have held Gladstone but I haven’t heard anyone talking about GLAD lately
Charles – what link? GAINN and GAINZ are trading well through 8% YTM. IMHO, 8% GAINL is probably right on the money – no bargain but pretty good for what they are… There is SAZ 8 1/2’s ’28 trading at a slight discount as a most recent BDC note issue but on the non BDC side, BRCP just issued 5 year private placement @ 8% as well this week…. GAINL is probably not going to be a flipper’s delight, but I’m thinking it’s fair..
Charles M
50% off par?? 23.40 & 22.10 , par =25
5.34% & 5.51% current
Gary,
My mistake. I pulled up SA and it was showing like 12.97 on one of them. I had no idea SA was so out of whack. Now I can understand your and 2WR confusion with my post
Hi Charles, I’ve been in GLAD for 5 or 6 years, maybe longer, cost basis is under $2, thinking about adding if it drops under 9. So, wouldn’t opine yea or nay for anyone else, but at least it’s been talked about.
Priced at 8.0%
https://seekingalpha.com/pr/19343738-gladstone-investment-corporation-prices-public-offering-of-8_00-percent-notes-due-2028