---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-013267"
form_type: "8-K"
ticker: "SAR"
cik: "0001377936"
company_name: "SARATOGA INVESTMENT CORP."
filed_at: "2026-02-06T23:59:59+00:00"
generated_at: "2026-05-16T04:03:01.035521+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Saratoga Investment Corp. issues $100M 7.50% Notes due 2031, proceeds to repay existing 4.375% notes

## Summary
- Issued $100.0M aggregate principal of 7.50% Notes due 2031; net proceeds ~$96.375M after underwriting discount and expenses.
- Notes mature on February 6, 2031; interest payable quarterly starting May 31, 2026.
- Net proceeds and available cash will be used to pay off the outstanding 4.375% notes due 2026 at maturity on Feb 28, 2026.
- Notes are unsecured, rank pari passu with existing unsecured unsubordinated debt, and structurally subordinated to subsidiaries' obligations.
- Closing occurred on February 6, 2026; offering made under effective shelf registration statement.

## SEC filing metadata
- accession: 0001213900-26-013267
- form_type: 8-K
- ticker: SAR
- cik: 0001377936
- company_name: SARATOGA INVESTMENT CORP.
- filed_at: 2026-02-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1377936/000121390026013267/0001213900-26-013267-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1377936/000121390026013267/ea0275815-8k_saratoga.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-013267
- JSON: https://secwatch.observer/filing/0001213900-26-013267.json
- Plain text: https://secwatch.observer/filing/0001213900-26-013267.txt

## Key facts
- Debt Financings
  SARATOGA INVESTMENT CORP. incurred senior notes of $100.0 million with U.S. Bank Trust Company, National Association at 7.50% per year maturing February 6, 2031.
  - Instrument: senior notes
  - Principal: $100.0 million
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 7.50% per year
  - Maturity: February 6, 2031
  - Event: incurrence
  source text: “Base Indenture”; and together with the Sixteenth Supplemental Indenture, the “Indenture”). The Sixteenth Supplemental Indenture relates to the Company’s issuance and sale of $100.0 million in aggregate principal amount of the Company’s 7.50% Notes due 2031 (the “Notes” and the issuance and sale of the Notes, the “Offering”). The Notes bear interest at a rate of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1377936/000121390026013267/0001213900-26-013267-index.htm
- Material Agreements
  SARATOGA INVESTMENT CORP. entered into Sixteenth Supplemental Indenture with U.S. Bank Trust Company, National Association valued at $100.0 million in aggregate principal amount (effective 2026-02-06).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $100.0 million in aggregate principal amount
  - Effective: 2026-02-06
  source text: on February 6, 2026, Saratoga Investment Corp. (the “Company”) and U.S. Bank Trust Company, National Association, as trustee (as successor in interest to U.S. Bank National Association) (the “Trustee”), entered into a Sixteenth Supplemental Indenture (the “Sixteenth Supplemental Indenture”) to the Base Indenture, dated May 10, 2013, by and between the Company and the Trustee (the “Base Indenture”; and together with the Sixteenth Supplemental Indenture, the “Indenture”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1377936/000121390026013267/0001213900-26-013267-index.htm

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