Oxford Square Prices Baby Bonds

Oxford Square Capital Corp (NASDAQ:OXSQ) has priced their new issue with a 6.25% coupon. The company has sold 1.7 million shares (bonds) with 255,000 available for over allotment

The notes will mature 4/30/2026, but the company will have a early call available to them starting 4/30/2022.

The issue is expected to trade under the permanent ticker of OXSQZ when it begins to trade on the NASDAQ–there will not be any OTC Grey market trading.

This issue is rated A- by Egan-Jones (for what it is worth).

While the SEC pricing document can be read here.

The company has 1 other baby bond outstanding with a coupon of 6.50% coupon which is trading in the $25.50 area. This issue can be seen here.

Reader xerty noted the pricing this morning at 3 am (our time CST)–thats pretty early.

3 thoughts on “Oxford Square Prices Baby Bonds”

  1. Just a few thoughts on shorter baby bonds…
    I have an account at Vanguard; as they have one of the largest in-house inventories or access to the vast majority of taxable bonds. I did an analysis of publically traded baby bonds on III (thanks Tim) verses what I can buy from Vanguard’s inventory. I only found one shorter term bond that I would invest in (in Vgaurd’s inventorythat I bought) that I thought was a good value verses just buying an open market baby bond with more liquidity. I was surprised at the good “deals” the baby’s are verses the straight bonds in Vanguard’s inventory. Any thoughts would be welcome.
    Not all those who wander are lost, Nomad

  2. BDC Bond Fund writes : The new ticker symbol is OXSQZ, and we bought the position at $24.92. The yield will be just above the 6.25% interest rate on the latest issue, which printed a quarter percent lower than OXSQL.

  3. Also baby bonds may start interim trading on the Other OTC market ?
    Quantumonline Writes: The 6.25% Notes OXSQZ were issued on 3/25/2019 and are expected to begin trading on the Nasdaq within 30 days of their issue date. The shares may start interim trading on the Other OTC market but we are not aware that they have done so to date.

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