The Company announced that it has commenced an underwritten public offering of its Series C Term Preferred Stock. The public offering price and other terms of the Preferred Stock are to be determined by negotiations between the Company and the underwriters. The Preferred Stock is rated ‘BBB’ by Egan-Jones Ratings Company. In addition, the Company plans to grant the underwriters a 30-day option to purchase additional shares of Preferred Stock on the same terms and conditions to cover overallotments, if any.
The Preferred Stock is expected to be listed on the New York Stock Exchange and to trade thereon within 30 days of the original issue date. As of 2021-06-08, the Fund’s leverage was 26.2% and Collateralized Loan Obligation Group leverage was 26.0%.