---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-22-079500"
form_type: "8-K"
ticker: "SAR"
cik: "0001377936"
company_name: "SARATOGA INVESTMENT CORP."
filed_at: "2022-12-13T23:59:59+00:00"
generated_at: "2026-06-21T05:15:42.179245+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Saratoga Investment Corp. issues $52.5M of 8.125% Notes due 2027

## Summary
- Principal amount $52.5M; interest rate 8.125% per year; maturity Dec 31, 2027.
- Net proceeds ~$50.76M after underwriting discounts ($1.64M) and expenses ($100K).
- Interest payable quarterly starting Feb 28, 2023; redeemable at par on/after Dec 13, 2024.
- Proceeds to fund middle-market investments and for general corporate purposes.
- Notes are unsecured, rank pari passu with existing unsubordinated unsecured debt.

## SEC filing metadata
- accession: 0001213900-22-079500
- form_type: 8-K
- ticker: SAR
- cik: 0001377936
- company_name: SARATOGA INVESTMENT CORP.
- filed_at: 2022-12-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1377936/000121390022079500/0001213900-22-079500-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1377936/000121390022079500/ea169874-8k_saratoga.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-22-079500
- JSON: https://secwatch.observer/filing/0001213900-22-079500.json
- Plain text: https://secwatch.observer/filing/0001213900-22-079500.txt

## Key facts
- Debt Financings
  SARATOGA INVESTMENT CORP. incurred senior notes of $52,500,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 8.125% per year maturing December 31, 2027.
  - Instrument: senior notes
  - Principal: $52,500,000 aggregate principal amount
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 8.125% per year
  - Maturity: December 31, 2027
  - Event: incurrence
  source text: the Thirteenth Supplemental Indenture relates to the Company’s issuance and sale of $52,500,000 aggregate principal amount of the Company’s 8.125% Notes due 2027
  evidence_url: https://www.sec.gov/Archives/edgar/data/1377936/000121390022079500/0001213900-22-079500-index.htm
- Material Agreements
  SARATOGA INVESTMENT CORP. entered into Thirteenth Supplemental Indenture with U.S. Bank Trust Company, National Association valued at $52,500,000 (effective 2022-12-13).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $52,500,000
  - Effective: 2022-12-13
  source text: On December 13, 2022, Saratoga Investment Corp. (the “Company”) and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association) (the “Trustee”), entered into a Thirteenth Supplemental Indenture (the “Thirteenth Supplemental Indenture”) to the indenture, dated May 10, 2013, between the Company and the Trustee (the “Base Indenture”; and together with the Thirteenth Supplemental Indenture, the “Indenture”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1377936/000121390022079500/0001213900-22-079500-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.