Saratoga Investment Prices Baby Bonds

BDC Saratoga Investment (SAR) has priced their new baby bond with a fixed rate coupon of 8.50%.

The ticker will be SAZ and there is no OTC trading–the new issue will likely start trading in the next week or so.

The company has 3 other baby bond issues outstanding which can be seen here.

The issue is rated BBB+ by Egan-Jones which Saratoga describes as ‘investment grade’. Credit definitions from the ratings agencies can be found here.

The pricing term sheet is here.

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