Great Elm Capital Corp. issues $36M of 8.125% notes due 2029 to refinance 2025 notes

Great Elm Capital Corp.

Issued $36M aggregate principal of 8.125% notes due 2029; underwriters can purchase up to $5.4M more.
Net proceeds ~$34.4M (or ~$39.6M if over-allotment exercised); used to redeem all 6.75% notes due 2025.
Notes mature Dec 31, 2029; interest paid quarterly at 8.125% per annum starting Dec 31, 2024.
Redeemable at the company's option at 100% of principal plus accrued interest on/after Dec 31, 2026.
Offering closed Sept 19, 2024; notes are direct unsecured obligations under a supplemental indenture.

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