NewsSOS
An $85.0 million offering of 8.00% Notes due 2031 closed Wednesday at Saratoga Investment Corp. (NYSE: SAR), the company disclosed in an 8-K filed with the Securities and Exchange Commission.
Net proceeds came to approximately $82,043,750.
The company said it intends to apply those proceeds, along with available cash, to redeem in full the outstanding 6.00% Notes due 2027, which trade on the New York Stock Exchange under the ticker SAT.
The transaction formalized through an Eighteenth Supplemental Indenture between Saratoga and U.S. Bank Trust Company, National Association, as trustee, acting as successor in interest to U.S.
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