CLO (collateralized loan obligation) owner Oxford Lane Capital (OXLC) has priced a new issue of $25 baby bonds.
The issue prices at 8.75% with a maturity date of 6/30/2023.
The company has 4 term preferreds and 2 baby bonds already outstanding which can be seen here.
The pricing term sheet is here.
Higher rate than the others are paying even with YTM.
I have the OXLCN ECCC. When this issue starts to trade it will be a good time to review these positions in light of this issue and the several more recent issues by these 2 funds. I may also allocate more capital to this sector.
Bummer that is pays quarterly rather than monthly.
BB always pays quarterly
06/30/2030