Oxford Square to Sell Baby Bonds

Business Development Company (BDC) Oxford Square (NASDAQ:OXSQ) has announced they will sell a new issue of baby bonds.

The new notes will have a maturity in 2026 and will have an early call available to the company starting in 2022.

Final details have not been released, but the company expects to list the bonds under permanent ticker of OXSQZ (although these sometimes change).

The preliminary prospectus can be seen here.

14 thoughts on “Oxford Square to Sell Baby Bonds”

  1. I own OXLCO but am wondering if this new issue will be used to redeem the O series. It’s been callable since June 2016

    1. Just noticed that the new issue is from Oxford Square, not Oxford Lane, not sure of the relationship between these two…

    2. Steve – Generalizing a bit, you ALWAYS can find a “Use Of Proceeds” section in every prospectus that tells you whether the proceeds of the new issue will be used to retire an older one. I do see where you’ve already figured out OXSQ is not the same company as OXLO (even though it’s the same people), so your OXSQZ does not impact OXLCO’s continuing existence.

      1. Thank you 2whiteroses, I appreciate the information, still pretty new to this area of the market. I’ll remember that.

  2. Any thoughts on buying these Oxford Lane BB’s? I’ve owned OXLCM for a couple of years and it’s been a steady monthly payer and held up pretty good in the Dec. selloff of preferreds, probably because it is a term preferred. OXLCO pays 7.5% and only sells for a little bit above OXLCO so I’m thinking maybe I should own that one instead.

    1. Hi Zwei–I noticed that when I was writing this one that it was missing–they had a name/symbol change on the earlier one so I will get it plugged in yet today.

      1. An interesting article Seeking Alpha, March 18,2019 concerning the relationship between Oxford Square and Oxford Lane.

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