secwatch.observer — SEC 8-K summary
======================================

Issuer:     SARATOGA INVESTMENT CORP. (SAR)
CIK:        0001377936
Form:       8-K
Filed at:   2024-03-28T23:59:59+00:00
Accession:  0001213900-24-027201
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Saratoga Investment Corp. closes $50M credit facility, expandable to $150M, via subsidiary SIF III
--------------------------------------------------------------------------------

- SIF III entered $50M Live Oak facility; can increase up to $150M within 2 years subject to conditions.
- Facility matures March 27, 2027, with optional 1-year extension; interest at Term SOFR + 3.50%-4.25%.
- Secured by SIF III assets and pledge of SIF III equity by Saratoga; minimum drawn amount $12.5M first year.
- Proceeds used to fund loan purchases; includes interest coverage and overcollateralization covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1377936/000121390024027201/0001213900-24-027201-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1377936/000121390024027201/ea0202640-8k_saratoga.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-027201

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer