This is a catch up from last week when I was out of the office. I am sure that folks noted the new issues in reader alerts last week.
NewtekOne (NEWT) has sold a new issue of baby bonds with a coupon of 8%. The issue has a maturity date in 2028.
The issue will trade under ticker NEWTI (caution this is a reused ticker which may cause some confusion).
I do not see any trading yet on eTrade or Fido–should be anytime now.
The pricing term sheet is here.
Remember that NewtekOne was a business development company (BDC) until a vote of shareholders in June, 2022 approved the revocation of BDC status and a switch to a C Corp.
Did GREEL suspend its coupon payment? It is listed in red on the Baby Bond report? Don’t see any news on the suspension?
trading 9/1; 24.6 curr price at FIDO.
Thanks avi