While the official paperwork has not been posted on the SEC site Oxford Lane Capital (OXLC) has priced their new issue of baby bonds.
The issue, with a maturity date in 2031, carries a coupon of 6.75%.
Interest payments will be paid quarterly.
The company sold 3.48 million shares with an over allotment of 520,000 shares available. Gross proceeds will be $100 million if all shares (bonds) are sold.
The company had previously announced the intention to redeem their 7.50% term preferred shares (OXLCO) of which there are 2.28 million shares outstanding.
The company press release announcing the pricing can be read here.