Saratoga Investment Corp (NYSE:SAR) announced on April 11, 2023, that it has priced an underwritten public offering of $50.0 million in unsecured notes due 2028, with an interest rate of 8.50%. The notes will mature on April 15, 2028, and will be issued in denominations of $25 and integral multiples of $25 thereafter. The closing of the offering is expected to occur on or about April 18, 2023, subject to customary closing conditions.
This is a breaking news story for Saratoga Investment Corp, as the public offering of unsecured notes will provide the company with additional capital to fund its growth initiatives and investments in middle-market companies.
Saratoga Investment Corp is a leading provider of financing solutions to middle-market companies in the United States. The company operates as a business development company and invests primarily in senior and unitranche leveraged loans and mezzanine debt, as well as equity securities issued by middle-market companies.
According to InvestorsObserver, Saratoga Investment Corp is near the top in its industry group, with an overall rating of 45. The company has a healthy portfolio and recently obtained a third SBIC license, making it an attractive investment opportunity.
Saratoga Investment Corp's (NYSE:SAR) dividend will be increasing from last year's payment of the same period to provide shareholders with a higher yield. The company has a history of increasing its dividend payout, which is a positive sign for investors.
The recent public offering of unsecured notes is a popular move for Saratoga Investment Corp, as it provides the company with additional capital to invest in middle-market companies and fuel its growth initiatives.
During the Q3 2023 Earnings Conference Call on January 11, 2023, Saratoga Investment Corp (NYSE:SAR) discussed its financial results and growth initiatives. The company's CEO, Henri Steenkamp, provided an overview of the company's portfolio and investment strategy, highlighting its focus on investing in middle-market companies with strong growth potential.
Saratoga Investment Corp has a strong track record of providing financing solutions to middle-market companies, with a focus on senior and unitranche leveraged loans and mezzanine debt. The company's recent public offering of unsecured notes is a research topic for investors, who are interested in the company's growth prospects and investment strategy.
An anonymous image description without actual names could be a graph showing the growth of Saratoga Investment Corp's portfolio and investment returns over the past few years, highlighting the company's strong track record of providing financing solutions to middle-market companies.
In conclusion, Saratoga Investment Corp's recent public offering of unsecured notes is a popular move for the company, as it provides additional capital to fuel its growth initiatives and investments in middle-market companies. The company's strong track record of providing financing solutions to middle-market companies and its focus on senior and unitranche leveraged loans and mezzanine debt make it an attractive investment opportunity for investors.
