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NewtekOne Sells a New Baby Bond

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.

3 thoughts on “NewtekOne Sells a New Baby Bond”

  1. Did GREEL suspend its coupon payment? It is listed in red on the Baby Bond report? Don’t see any news on the suspension?

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