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Saratoga Investment Corp., 6.75% Notes due 12/30/2023
Ticker Symbol: SAB* CUSIP: 80349A406 Exchange: NYSE
* NOTE: This security is no longer trading as of 2/07/2020
Security has been Called for: Friday, February 7, 2020
Fron the news release dated 1/8/2020 -- On January 8, 2020, the Company caused notices to be issued to the remaining holders of its 6.75% 2023 baby bonds regarding the Company’s exercise of its option to redeem the remaining $24.45 million in aggregate principal amount of issued and outstanding 2023 baby bonds. The Company will redeem this remaining amount of issued and outstanding 2023 baby bonds on February 7, 2020 (the “second Redemption Date”). These baby bonds will also be redeemed at 100% of their principal amount ($25 per baby bond), plus the accrued and unpaid interest thereon from December 31, 2019, through, but excluding, the Second Redemption Date. ____________ From the form 8-K filed with the SEC on 11/15/2019 -- Item 8.01 -- Other Events. On November 15, 2019, Saratoga Investment Corp. caused notices to be issued to the holders of its 6.75% Notes due 2023 (CUSIP No. 80349A 406; NYSE: SAB) regarding the Company’s exercise of its option to redeem, in part, the issued and outstanding Notes, pursuant to Section 1104 of the Indenture dated as of May 10, 2013, between the Company and U.S. Bank National Association, as trustee, and Section 101(h) of the Second Supplemental Indenture dated as of December 21, 2016. The Company will redeem $50,000,000 in aggregate principal amount of the $74,450,500 in aggregate principal amount of issued and outstanding Notes on December 21, 2019. The Notes will be redeemed at 100% of their principal amount ($25 per Note), plus the accrued and unpaid interest thereon from September 30, 2019, through, but excluding, the Redemption Date.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Saratoga Investment Corp., 6.75% Notes due 2023, issued in $25 denominations, redeemable at the issuer's option on or after 12/21/2019 at $25 per note plus accrued and unpaid interest, and maturing 12/30/2023. Interest distributions of 6.75% per annum ($1.6875 per annum or $0.421875 per quarter) will be paid quarterly on 3/30, 6/30, 9/30 & 12/30 to holders of record on the record date that will be 3/15, 6/15, 9/15 & 12/15 respectively (NOTE: the ex-dividend date is one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (SAR)
IPO - 12/13/2016 - 2.60 Million Notes @ $25.00 /note.
Link to IPO Prospectus
Market Value $67.9 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 535 Madison Avenue, New York, NY 10022 |
| Main Phone Number |
212-906-7800 |
| Fax Number |
Not Available |
| Investor Relations
Nancy Loesch
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212-906-7844
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| CEO - Christian L. Oberbeck |
CFO - Henri J. Steenkamp |
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