SARATOGA INVESTMENT CORP. (SAR): debt financing — Saratoga Investment Corp. issues $40M 8.00% notes due 2027; net proceeds ~$38.45M

SARATOGA INVESTMENT CORP.

Principal amount of $40M, interest at 8.00% per year, maturity October 31, 2027.
Net proceeds of approximately $38.45M, after underwriting discounts and offering expenses.
Proceeds to be used for middle-market investments and general corporate purposes.
Notes are unsecured, rank pari passu with existing unsubordinated debt, and callable at par after Oct 27, 2024.
Covenants include asset coverage tests under the 1940 Act and restrictions on dividends/purchases when coverage is insufficient.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SARATOGA INVESTMENT CORP. incurred senior notes of $40,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 8.00% per year maturing October 31, 2027.

Instrument: senior notes
Principal: $40,000,000 aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 8.00% per year
Maturity: October 31, 2027
Event: incurrence

Exact text from the filing

(the “Base Indenture”; and together with the Twelfth Supplemental Indenture, the “Indenture”). The Twelfth Supplemental Indenture relates to the Company’s issuance and sale of $40,000,000 aggregate principal amount of the Company’s 8.00% Notes due 2027 (the “Notes” and the issuance and sale of the Notes, the “Offering”). The Notes bear interest at a rate of 8.00%

View on SEC.gov

Browse all debt financings →

SARATOGA INVESTMENT CORP. filing history →

Source: SEC EDGAR

accession 0001213900-22-066744

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.