Category: Debt Issuance

Business development company Gladstone Investment (GAIN) has priced their new issue of baby bonds.

The issue prices at 7.875% for 4.4 million shares (bonds) with another 660,000 for overallotments.

The pricing term sheet can be seen here.

Business development company Gladstone Investment (GAIN) has announced they are selling a new issue of baby bonds.

The issue will have a maturity date in 2030 and an early call available to the company in 2027.

The company has a number of low coupon baby bonds outstanding which can be seen here.

The preliminary prospectus can be found here.

Thanks to 2whiteroses for posting this yesterday afternoon.

CLO owner Eagle Point Credit Company has priced their new issues of baby bonds.

The baby bonds, which mature in 2030 are priced at 7.75%. This is a large 4 million share (bond) issue–actually made possible by the companys aggressive ‘at the money’ common share sales program.

The pricing term sheet is here.

Ready Capital (RC) has priced their new issue of baby bonds with a high coupon of 9%. The early redemption period starts 12/15/2026 with maturity on 12/15/2029.

2 baby bonds that are currently outstanding from RC are trading with current yields around 5.90% and 6.38% respectively–could be messy for these 2 issues tomorrow.

The pricing term sheet can be read here.

Eagle Point Credit (ECC) has announced they would be selling a new issue of $25/share baby bonds.

ECC is one of the oldest publicly traded holders of collateralized loan obligations (CLOs) and already has numerous issues of term preferreds, perpetual preferreds and baby bonds outstanding which can be seen here.

The preliminary prospectus can be read here.

J noted this (as usual) in the reader alerts just minutes ago. The headlines today included the ECC press release.