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OFS Capital Corporation Prices Public Offering of $50,000,000 4.95% Notes Due 2028
CHICAGO--(BUSINESS WIRE)-- OFS Capital Corporation (the “Company”) (Nasdaq: OFS) announced today that it has priced a registered public offering of
About this update from Ofs Capital Corporation
[{"type":"text","content":" CHICAGO--(BUSINESS WIRE)--\nOFS Capital Corporation (the “Company”) (Nasdaq: OFS) announced today that it has priced a registered public offering of $50,000,000 aggregate principal amount of its 4.95% notes due 2028 (the “Notes”) which will result in net proceeds to the Company of approximately $48,137,500 (or approximately $52,981,250 if the underwriters fully exercise the overallotment option described below) based on a public offering price of 100% of the aggregate principal amount of the Notes, after deducting payment of underwriting discounts and commissions and estimated offering expenses payable by the Company.\n\nThe Notes will mature on October 31, 2028 and may be redeemed in whole or in part at any time, or from time to time, at the Company’s option on or after October 31, 2023. The Notes will bear interest at a rate of 4.95% per year, payable quarterly on January 31, April 30, July 31, and October 31 of each year, beginning on January 31, 2022. The Company has also granted the underwriters a 30-day option to purchase an additional $5,000,000 aggregate principal amount of Notes to cover overallotments, if any.\n\nThe offering is subject to customary closing conditions and is expected to close on October 28, 2021. The Company has submitted an application for the Notes to be listed and trade on The Nasdaq Global Select Market under the trading symbol “OFSSH”. If approved for listing, the Company expects the Notes to begin trading within 30 days from the original issue date.\n\nThe Company intends to use the net proceeds from this offering to fully or partially pay down, retire, or redeem certain of its outstanding indebtedness, which may include the Company’s 6.25% Notes due 2023, 5.95% Notes due 2026 and/or borrowings under its secured revolving credit facility with BNP Paribas (the “BNP Facility”). As of October 19, 2021, the Company had approximately $25.0 million aggregate principal amount outstanding, plus accrued interest, of 6.25% Notes due 2023, which mature on September 30, 2023, and bear interest at a rate of 6.25% per annum. The Company’s 6.25% Notes due 2023 will be redeemed on November 1, 2021. As of October 19, 2021, the Company had approximately $54.3 million aggregate principal amount outstanding, plus accrued interest, of 5.95% Notes due 2026, which mature on October 31, 2026, and bear interest at a rat...