BDC OFS Capital to Sell Baby Bonds

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.

4 thoughts on “BDC OFS Capital to Sell Baby Bonds”

  1. 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

  2. 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.

Leave a Reply

Your email address will not be published.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