OFS Capital Corporation Prices Public Offering of Additional $25 Million of 4.75% Notes Due 2026 with a Re-Offer Yield of Approximately 4.50%

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[{"type":"text","content":" CHICAGO--(BUSINESS WIRE)--\nOFS Capital Corporation (the “Company”) (Nasdaq: OFS) announced today that it has priced a registered public offering of an additional $25 million aggregate principal amount of its 4.75% notes due 2026 (the “Notes”) which will result in net proceeds to the Company of approximately $24.7 million after deducting payments of underwriting discounts and estimated offering expenses payable by the Company. The Notes will be issued at a price of 101.038% of the aggregate principal amount of the Notes, plus accrued interest, resulting in a re-offer yield of approximately 4.50%.\n\nPurchasers will be required to pay accrued and unpaid interest on the Notes from February 10, 2021 up to (but excluding) the date of delivery of the Notes. On August 10, 2021, the Company will pay this pre-issuance accrued interest on the Notes to the holders of the Notes as of the applicable record date, along with interest accrued on the Notes offered hereby from the date of delivery to such interest payment date.\n\nThe Notes will constitute a further issuance of, have the same terms as, rank equally in right of payment with, and be fungible and form a single series with the $100 million in aggregate principal amount of the 4.75% Notes due 2026 that the Company initially issued on February 10, 2021. Upon the issuance of the Notes, the outstanding aggregate principal amount of the Company’s 4.75% notes due 2026 will be $125 million.\n\nThe Notes will mature on February 10, 2026 and may be redeemed in whole or in part at any time, or from time to time, at the Company’s option at par plus a “make-whole” premium, if applicable. The Notes will bear interest at a rate of 4.75% per year, payable semi-annually in arrears on February 10 and August 10 of each year, beginning on August 10, 2021.\n\nThe offering is subject to customary closing conditions and is expected to close on March 18, 2021.\n\nThe Company intends to use the net proceeds of the offering to fund investments in debt and equity securities in accordance with its investment objectives and for other general corporate purposes. The Company may also use the net proceeds from the offering to repay outstanding indebtedness under its secured revolving credit facility with BNP Paribas, as amended (the “BNP Facility”). As of March 12, 2021, the Company had $35.7 million of indebted...

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