Saratoga talks $35 million $25-par notes due 2025 at 6.25%-6.375%

By James McCandless

San Antonio, Aug. 21 – Saratoga Investment Corp. plans to price an offering of $25-par notes due 2025 with an initial size of $35 million and talk for a coupon of 6.25% to 6.375%, according to a market source.

The deal was announced Tuesday morning.

Ladenburg Thalmann & Co., Inc., BB&T Capital Markets and Janney Montgomery Scott LLC are the joint bookrunners.

The notes are callable.

Saratoga plans to use the proceeds to make investments in middle market companies in accordance with its investment objective and strategies.

The company intends to list the notes on the New York Stock Exchange under the symbol “SAF.”

Saratoga is a Florham Park, N.J.-based middle market investment company.

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