debt
confidence high
sentiment neutral
materiality 0.50
Great Elm Capital Corp. conditional redemption of 6.75% Notes due 2025 contingent on new 8.125% Notes offering
Great Elm Capital Corp.
- Conditional redemption of all outstanding 6.75% Notes due 2025 at 100% of principal plus accrued interest.
- Redemption set for Oct 12, 2024, contingent on closing of new 8.125% Notes due 2029 offering.
- Redemption price $25.00 per note plus approx. $0.05625 accrued interest from Sept 30.
- If the 2029 Notes offering fails to close, redemption may be delayed or rescinded.
- Refinancing extends maturity from 2025 to 2029 but at a higher interest rate of 8.125%.