Business development company Runway Growth Finance Corporation (RWAY) has announced they will be selling a new issue of notes with a maturity date in 2027.
Runway Growth focuses on loans in the technology and life science sectors and has $762 million in assets as of 3/31/2022.
RWAY had a coverage ratio of almost 500% as of 3/31/2022 which is a very strong balance sheet for a business development company.
Finra has the Runway bonds coupon at 6.25% and maturity 7/31/2027 CUSIP 78163D209 I do not see any trades as of yet https://finra-markets.morningstar.com/BondCenter/BondDetail.jsp?ticker=FRWAY5449422&symbol=RWAY5449422
“Government does not solve problems. It subsidizes them.”
I am Azure
oh well
Update: FINRA TRACE corrected this issue 7.5% due 7/28/2027, they initially had the incorrect information.
Great works are performed, not by strength, but by one’s perseverance, Azure
Financials look decent. Common stock pretty stable over 5 years. Common stock analysts are positive. Will be a term-dated offering. Potentially 7% plus. Looks interesting
How is that coverage ratio calculated and what are the important metrics for the BDC which should be taken into consideration? Thanks
RWAY BONDS
Hearing 7.25%-7.50%