Saratoga Investment plans $25-par fixed-rate notes offering due 2027

By Mary-Katherine Stinson

Lexington, Ky., Dec. 5 – Saratoga Investment Corp. is planning an offering of $25-par fixed-rate notes due 2027 (Egan-Jones: BBB+), according to a 424B2 filing with the Securities and Exchange Commission.

The notes are callable at par at a certain point.

There will be a 30-day greenshoe option for additional notes.

Ladenburg Thalmann & Co. Inc., B. Riley Securities and Oppenheimer & Co. Inc. are joint bookrunners, and Compass Point, InspereX LLC, Janney Montgomery Scott and William Blair 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 including investments made through SBIC III LP 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 “SAY.”

The specialty finance company is based in New York.

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