The Company announced that it priced a registered direct offering of $57.50 million aggregate principal amount of 7.00% Notes due 2028 (the “Notes”). The Notes will mature on December 15, 2028 and may be redeemed in whole or in part at any time prior to June 15, 2028 at par plus a “make-whole” premium and thereafter at par plus accrued and unpaid interest thereon to the redemption date. The Notes will bear interest at a rate of 7.00% per year payable on June 15 and December 15 of each year, which shall begin accruing on December 15, 2025. The Company does not intend to list the Notes on any securities exchange or automated dealer quotation system. Oppenheimer & Co. Inc. acted as sole book-running manager for this offering.
The closing of the transaction is subject to customary closing conditions and the Notes are expected to be delivered on or about December 15, 2025.
The Company intends to use the net proceeds from this offering to repay indebtedness, including the Company’s 4.875% Notes due 2026, and for other general corporate purposes. As of 2025-12-11, the Fund’s leverage was 56.5% and Debt Focused BDC Group leverage was 50.5%.