Our site runs on donations to keep it running for free. Please consider donating if you enjoy your experience here!

BDC Gladstone Investment to Sell New Baby Bonds

Business development company Gladstone Investment (GAIN) will be selling a new issue of $25 baby bonds.

This issue will pay quarterly interest payments and will have a early optional redemption starting 11/1/2023 with maturity on 11/1/2028.

The permanent ticker will be GAINO when it finally begins to trade in a week or so. There will not be OTC grey market trading, although once the CUSIP is issued an investor may be able to call their brokers bond desk to secure shares (bonds) prior to exchange trading.

The proceeds from this offering will be used to redeem the GAINL 6.375% term preferred which has been optionally redeemable since 8/2020.

The preliminary prospectus can be seen here.

StackingNickels was right on top of this one.

Leave a Reply

Your email address will not be published. Required fields are marked *