Stellus Capital to partially repay credit facility via new notes

By Marisa Wong

Los Angeles, Jan. 11 – Stellus Capital Investment Corp. plans to repay a portion of the amount outstanding under its credit facility using proceeds from an offering of $100 million of 4.875% notes due 2026, according to a 424B2 filing with the Securities and Exchange Commission.

As of Jan. 8, there was $171 million outstanding under the credit facility.

The credit facility matures on Sept. 18, 2025, and borrowings bear interest at Libor plus 250 basis points, subject to a 0.25% Libor floor.

Stellus will also use proceeds from the new 2026 notes to redeem all of its outstanding 5.75% notes due Sept. 15, 2022.

The closed-end, non-diversified investment management company is based in Houston.

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