Monitor the company's leverage ratio and net investment income coverage of interest costs in upcoming quarterly filings. The 8.00% coupon suggests the market demands a premium for this credit risk.
Price Chart
Executive Summary
Saratoga Investment Corp. priced an additional $20.08 million of 8.00% unsecured notes due 2031, with an underwriter option for up to $3.0 million more. This debt offering increases leverage and interest expense, though proceeds likely support the company's investment portfolio. The fixed 8.00% coupon is relatively high, signaling credit risk or a niche investor base.
Key Financial Metrics
Key Facts
- Priced $20.08 million in aggregate principal of 8.00% unsecured notes due 2031 (NYSE: SAX).
- Underwriters have an option to purchase up to an additional $3.0 million in principal.
- The notes carry an 8.00% coupon, indicating elevated borrowing cost.
- Offering increases the company's debt outstanding and interest expense.
Financial Impact
Additional $20.08 million in debt at 8.00% interest, increasing annual interest expense by approximately $1.6 million.
Risk Factors
- Higher leverage and interest expense may pressure net investment income.
- If the underwriter option is fully exercised, total debt increases to $23.08 million.
- Fixed-rate debt at 8.00% could become expensive if interest rates decline.
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3367835 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 13d ago | Insider Buy | $15.07 $14.92 | ▼ −1.00% | ▲ +0.09% | $13.34 (−11.47%) |
Oct 9, 2026 16d ago | 8-K | $14.93 $15.07 | ▲ +0.94% | ▲ +0.95% | $13.34 (−10.64%) |
Oct 6, 2026 19d ago | 8-K | $14.91 $14.97 | ▼ −0.40% | ▼ −0.83% | $13.34 (+10.52%) |
Sep 23, 2026 4w ago | Press Release | $17.33 $17.11 | ▲ +1.27% | ▲ +1.81% | $13.34 (+23.02%) |
Sep 22, 2026 4w ago | Press Release | $17.46 $17.33 | ▼ −0.74% | ▼ −0.66% | $13.34 (−23.59%) |
Sep 18, 2026 5w ago | Press Release | $17.57 $17.75 | ▲ +1.02% | ▲ +1.04% | $13.34 (−24.07%) |
Sep 18, 2026 5w ago | 25-NSE | $17.64 $17.57 | ▼ −0.40% | ▼ −1.95% | $13.34 (−24.37%) |
Sep 17, 2026 5w ago | Press Release | $17.86 | awaiting T+1 | — | $13.34 (−25.30%) |
Aug 26, 2026 8w ago | 8-K | $18.42 $18.33 | ▼ −0.49% | ▼ −1.14% | $13.34 (−27.57%) |
Aug 19, 2026 9w ago | 8-K | $18.72 $18.43 | ▼ −1.55% | ▼ −1.96% | $13.34 (−28.74%) |
US Market Status
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