BDC Great Elm Capital (GECC) has finally announced they are moving ahead with the baby bond offering first announced over 1 month ago.
No details have been announced excepting they except to redeem the 6.50% baby bonds (GECCL) currently outstanding. The ticker will be GECCO and it will have a maturity date in 2026.
The company press release can be seen here.
Fabrib was on top of this one.
DO YOU THINK WALA WILL BE CALLED ON 7-1-2021
WALA just issues 600 million of 3% sub notes. What’s your guess?
WALA is redeemable on payment dates only so unless they have given notice for 7-1 you safe good until 10-1. But odds after that are slim to none, and Slim just left the room as they say.
Odd, why GECCL, not M? M pays more, is past call.
GECCM matures in 2025 while GECCL matures in 2022. Companies must deal with near term maturities first as one never knows when markets will turn against them, and then they have to scramble to refinance looming maturities. It’s always a good idea to get well ahead of an upcoming maturity and take care of it early while markets are in your favor. 2025 is still some time away.
THANKS-
Figured that was it, even though M has the higher coupon.