Saratoga Investment’s 6.75% $25-par notes due 2023 list on NYSE

By Stephanie N. Rotondo

Seattle, Dec. 29 – Saratoga Investment Corp.’s 6.75% $25-par notes due Dec. 30, 2023 listed on the New York Stock Exchange on Wednesday, according to a market source.

The ticker symbol is “SAB.”

The company initially sold $65 million of the notes on Dec. 13. On Dec. 21, the company said part of the $9.75 million over-allotment option had been exercised, bringing the total amount outstanding to $74.45 million.

The deal came in line with the 6.75% price talk, as previously reported.

Ladenburg Thalmann & Co. Inc., BB&T Capital Markets, Compass Point and William Blair & Co. were the joint bookrunners.

Interest is payable on a quarterly basis. The notes are redeemable on or after Dec. 21, 2019 at par plus accrued interest.

Proceeds will be used to repay all $61.79 million of outstanding 7.5% $25-par notes due 2020 (NYSE: SAQ) and for general corporate purposes.

Saratoga is a New York-based specialty finance company.

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