Saratoga Investment Corp. (NYSE: SAR) announced a registered public offering of additional 8.00% notes due 2031, which will trade on the New York Stock Exchange under the ticker SAX.
The new notes will rank equally in right of payment with $85 million in aggregate principal amount of the same series issued on August 26, 2026, and $12.75 million issued on September 2, 2026. The terms mirror the existing issuance, differing only in issue date and offering price, the company said.
Lucid Capital Markets LLC and Oppenheimer & Co. Inc. are serving as joint book-running managers for the offering. A registration statement covering the notes was filed with and declared effective by the Securities and Exchange Commission.
Saratoga expects to use net proceeds from the offering to either repay a portion of its outstanding indebtedness under a special purpose vehicle financing credit facility with Valley National Bank or redeem its outstanding 8.00% notes due 2027, depending on the amount of proceeds raised.
Saratoga Investment Corp. is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses. The firm invests primarily in senior and unitranche leveraged loans and mezzanine debt. It operates as a business development company regulated under the Investment Company Act of 1940 and is externally managed by Saratoga Investment Advisors LLC.