US EditionSTELLUS CAPITAL INVESTMENT CORPORATION PRICES OFFERING OF $75 MILLION OF 7.25% NOTES DUE 2030
- On March 25, 2025, Houston-based Stellus Capital Investment Corporation announced the pricing of a $75 million public offering of notes due in 2030.
- Stellus intends to use the net proceeds to repay a portion of its $236.4 million outstanding indebtedness under its credit facility as of March 24, 2025.
- The Notes, bearing a 7.25% interest rate payable semi-annually on April 1 and October 1, starting October 1, 2025, will mature on April 1, 2030, and may be redeemed in whole or in part at par plus a 'make-whole' premium at the Company's option.
- Raymond James & Associates, Inc. Is the lead book-running manager for the offering, with Goldman Sachs & Co. And Keefe, Bruyette & Woods, Inc. Also involved.
- While the offering provides additional capital and potential flexibility for new investments, the 7.25% interest rate could increase interest expenses, representing a strategic debt restructuring affecting approximately 31.7% of SCM's outstanding credit facility indebtedness and roughly 19.2% of the company's $391 million market capitalization.
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STELLUS CAPITAL INVESTMENT CORPORATION PRICES OFFERING OF $75 MILLION OF 7.25% NOTES DUE 2030
HOUSTON, March 25, 2025 /PRNewswire/ -- Stellus Capital Investment Corporation (NYSE: SCM) ("Stellus" or "the Company") today announced that it priced a public offering of $75 million aggregate principal amount of 7.25% notes due 2030 (the "Notes") on March 25,…
·Pennsylvania, United States
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