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Share Name | Share Symbol | Market | Type |
---|---|---|---|
OFS Capital Corporation | NASDAQ:OFS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.03 | -0.34% | 8.81 | 8.80 | 8.81 | 8.87 | 8.80 | 8.80 | 14,890 | 18:55:15 |
Issuer | OFS Capital Corporation (the “Company”) | |||||||
Security | 4.75% Notes due 2026 | |||||||
Rating* | BBB (Egan-Jones) | |||||||
Aggregate Principal Amount Offered | $100,000,000 | |||||||
Maturity | February 10, 2026 | |||||||
Trade Date | February 5, 2021 | |||||||
Settlement Date** | February 10, 2021 (T+3) | |||||||
Use of Proceeds | To fully or partially pay down, retire, or redeem certain of the Company’s outstanding 6.50% Notes due 2025, 6.375% Notes due 2025 and/or the borrowings under the Company’s secured revolving credit facility with BNP Paribas. | |||||||
Price to Public (Issue Price) |
98.906% of the aggregate principal amount
|
|||||||
Coupon (Interest Rate) | 4.75% | |||||||
Yield to Maturity | 5.00% | |||||||
Spread to Benchmark Treasury | +454 basis points |
Benchmark Treasury | 0.375% due January 31, 2026 | |||||||
Benchmark Treasury Price and Yield | 99-18 / 0.464% | |||||||
Interest Payment Dates | February 10 and August 10, beginning August 10, 2021 | |||||||
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. | |||||||
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:
•100% of the principal amount of the Notes to be redeemed, or
•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 November 10, 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; provided, further, that no such partial redemption shall reduce the portion of the principal amount of a Note not redeemed to less than $2,000.
|
|||||||
Denomination | $2,000 and integral multiples of $1,000 in excess thereof | |||||||
CUSIP | 67103B AA8 | |||||||
ISIN | US67103BAA89 |
Underwriting Discount | 2.00% | |||||||
Joint Book-Running Managers |
Goldman Sachs & Co. LLC
Truist Securities, Inc. |
|||||||
Co-Managers |
Janney Montgomery Scott LLC
Ladenburg Thalmann & Co. Inc.
|
1 Year OFS Capital Chart |
1 Month OFS Capital Chart |
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