Saratoga Investment Corp (SAR) has priced their previously announced baby bond.
The issue prices at 6.00% and is rated BBB+ by Egan Jones.
An optional early redemption is available to the company starting in 2024 with maturity set for 4/30/2027.
The company may use the proceeds from this offering to call the SAK 7.25% baby bonds which become redeemable on 6/24/2022.
The pricing term sheet can be found here.
SAT begins trading on the NYSE today
Flashback to pre-college preparation… ahhhhhhhh.
bought a tiny amount at 24.7 at td
bob