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Saratoga Investment plans offering of $25-par fixed-rate notes
By Mary-Katherine Stinson
Lexington, Ky., Oct. 19 – Saratoga Investment Corp. is planning an offering of $25-par fixed-rate notes due 2027 (Egan-Jones: BBB+), according to a filing with the Securities and Exchange Commission.
The notes are callable at par at a certain point.
Ladenburg Thalmann & Co. Inc. and Oppenheimer & Co. Inc. are joint bookrunners, and Compass Point, InspereX LLC and Janney Montgomery Scott are lead managers for the offering.
Hovde Group, LLC and Maxim Group LLC are the co-managers.
U.S. Bank Trust Co., NA is the trustee.
Eversheds Sutherland (US) LLP will act as counsel for Saratoga, and Blank Rome LLP will serve as counsel to the bookrunners.
Proceeds will be used to make investments in middle-market companies and for general corporate purposes. Pending such use, proceeds will be used to invest in short-term debt securities.
The notes will trade on the New York Stock Exchange under the symbol “SAJ.”
The specialty finance company is based in New York.
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