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Share Name | Share Symbol | Market | Type |
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Capital Southwest Corporation | NASDAQ:CSWC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.40 | 1.55% | 26.22 | 26.22 | 26.36 | 26.34 | 25.84 | 25.84 | 213,731 | 22:49:03 |
Issuer: | Capital Southwest Corporation (the “Company”) | ||||
Security: | 4.50% Notes due 2026 | ||||
Rating*: | A- (Egan-Jones) | ||||
Aggregate Principal Amount: |
$65,000,000 in aggregate principal amount of New Notes. The New Notes will be part of the same series of notes as the $75,000,000 aggregate principal amount of the Existing Notes. Upon settlement, the New Notes will be fungible, rank equally, and treated as a single series with the Existing Notes, and the outstanding aggregate principal amount of the 4.50% Notes due 2026 will be $140,000,000.
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Maturity: | January 31, 2026 | ||||
Trade Date: | February 22, 2021 | ||||
Settlement Date**: | February 25, 2021 (T+3) | ||||
Use of Proceeds: | Repay outstanding indebtedness under the Company’s credit facility | ||||
Price to Public (Issue Price): | 102.11% of the aggregate principal amount, plus Aggregate Accrued Interest (as defined below) | ||||
Aggregate Accrued Interest: | $455,000 of accrued and unpaid interest from December 29, 2020 up to, but not including, the date of delivery of the New Notes | ||||
Coupon (Interest Rate): | 4.50% | ||||
Yield to Maturity: | 4.022% | ||||
Spread to Benchmark Treasury | +343 basis points | ||||
Benchmark Treasury | 0.375% due January 31, 2026 | ||||
Benchmark Treasury Price and Yield | 98-29 ¾ / 0.595% |
Interest Payment Dates: | January 31 and July 31, beginning July 31, 2021 | ||||
Optional Redemption: |
The Company may redeem some or all of the Notes at any time, or from time to time at its option, at a redemption price (as determined by the Company) equal to the greater of the following amounts, plus, in each case, accrued and unpaid interest to, but excluding, the redemption date:
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(1) 100% of the principal amount of the Notes to be redeemed, or
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(2) the sum of the present values of the remaining scheduled payments of principal and interest (exclusive of accrued and unpaid interest to the date of redemption) on the Notes to be redeemed, discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) using the applicable Treasury Rate plus 50 basis points; provided, however, that if the Company redeems any Notes on or after October 31, 2025 (the date falling three months prior to the maturity date of the Notes), the redemption price for the Notes will be equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption.
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Offer to Purchase upon a Change of Control Repurchase Event: | If a Change of Control Repurchase Event occurs prior to maturity, holders will have the right, at their option, to require the Company to repurchase for cash some or all of the Notes at a repurchase price equal to 100% of the principal amount of the Notes being repurchased, plus accrued and unpaid interest to, but not including, the repurchase date. | ||||
Denomination: | $2,000 and integral multiples of $1,000 in excess thereof | ||||
CUSIP: | 140501 AB3 | ||||
ISIN: | US140501AB39 | ||||
Underwriting Discount: | 2.000% | ||||
Sole Book-Running Manager: | Raymond James & Associates, Inc. |
1 Year Capital Southwest Chart |
1 Month Capital Southwest Chart |
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