Saratoga Investment (SAR) priced a public offering of $85 million of 8% unsecured notes due Aug. 31, 2031, the company said late Tuesday.
Underwriters have an overallotment option to purchase up to $12.8 million of additional notes.
The company expects the offering to close Aug. 26 and plans to use the net proceeds to redeem other outstanding debt, it said.
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