Business Development Company OFS Capital (OFS) will be selling a new issue of $25 notes.
The company already has 3 issues outstanding with coupons ranging from 5.95% to 6.50% and you can see them here. All issues are trading substantially under $25.
The preliminary prospectus can be read here.
Fabrib was right on this one with EarlyBird noting ‘yield talk’ at 6.125-6.25% with a Egan-Jones BBB- rating.
OFSSG will be the ticker.
https://ir.ofscapitalcorp.com/static-files/2f4e4c27-daea-4bf6-96f1-96c9d43e3339
Issuer: OFS Capital Corp.
Deal Size: $25 Million
Credit Rating: BBB- (Egan-Jones)
Coupon Talk: 6.125% to 6.25%
Stated Maturity: 3 years (2023)
No Call Provision: 1 years
Lead Bookrunner: Ladenburg Thalmann
Joint Bookrunner: Janney Montgomery Scott, National
If the yield talk is right, there is no point in buying until its dropped in the low $20s. The highest yielding baby bond is trading for $23 and change.
$23 & change? Riley’s, Sachem’s, Saratoga’s & more are higher.