OFS Credit (OFS) has announced a new offering of baby bonds–what the heck might as well have everyone clamoring for some cheap money.
The company already has 2 baby bond issues outstanding which can be seen here. The outstanding issues have coupons of 6.25% and 6.50% respectively.
The company expects to have a leverage ratio of 204% after this offering. On 5/3/2019 the company changed their coverage ratio requirement from 200% to the new minimum level of 150%.
The planned ticker for the new baby bond is OFSSI. There will not be any OTC Grey market ticker, but one may be able to buy early by contacting the ‘bond desk’ of their respective broker once the CUSIP is known.