BDC Saratoga Investment Corporation (SAR) has announced they will be issuing a new baby bond.
This issue is rated BBB by Egan-Jones.
The issue will trade under permanent ticker SAC when it begins to trade on the NYSE. No OTC grey market trading will take place, although anxious investors may be able to call their broker with the CUSIP number (when known) and secure shares prior to exchange trading.
The new baby bond will mature in 2025 an will pay the typical quarterly interest payments. There will be a early redemption option for the company but the date has not yet been released.
SAR has 1 other baby bonds currently outstanding–it can be seen here.
The preliminary prospectus can be seen here for the new issue.
EarlyBird was early with this new issue.