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Business Development Company OFS Capital to Sell New Baby Bonds

BDC OFS Capital (OFS) has announced they will be selling a new issue of baby bonds.

The company has already announced the redemption of their 6.25% Notes due 2023 (OFSSG) for 11/1/2021. This leaves the OFSSI 5.95% notes outstanding which become redeemable on 10/31.

The company press release can be read here.

The preliminary prospectus is here.

Fabrib was on top of this one with 2whiteroses chipping in.

3 thoughts on “Business Development Company OFS Capital to Sell New Baby Bonds”

  1. OFS Capital (NASDAQ:OFS) has priced a registered public offering of $50M of its 4.95% notes due 2028, resulting into net proceeds of ~$48,137,500 based on a public offering price of 100% of the aggregate principal amount of the notes.
    Underwriters’ over-allotment is an additional 5M notes.
    The notes will mature on October 31, 2028 and may be redeemed in whole or in part at the Company’s option on or after October 31, 2023.
    The notes will bear interest at a rate of 4.95% p.a. payable quarterly on January 31, April 30, July 31, and October 31 of each year, beginning on January 31, 2022.
    Net proceeds from the offering will be used to fully or partially pay down, retire, or redeem certain of its outstanding indebtedness, which may include the company’s 6.25% Notes due 2023, 5.95% Notes due 2026 and/or borrowings under its secured revolving credit facility with BNP Paribas.
    The company has submitted an application for the notes to be listed on The Nasdaq under the trading symbol “OFSSH”. If approved, notes will commence trading within 30 days from the original issue date.
    Closing date is October 28, 2021.

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