Business development company (BDC) Saratoga Investment (SAR) will be selling a new issue of baby bonds.
These notes are likely to have a shorter maturity date–5-10 years.
The company has a 7.25% note issue (SAK) which is currently trading at $25.42 and which becomes redeemable on 6/24/2022. The company has stated they may call these noes with the proceeds of the new issue.
The issue will trade under ticker SAT when it begins trading in a week or so. The issue is rated BBB+ by Egan Jones.
EarlyBird was right on top of this issue.