BB&T Capital Markets Serves as a Joint Bookrunner on Saratoga Investment Corp.’s Retail Notes Offering
BB&T Capital Markets’ Financial Services Group completed a transaction for Saratoga Investment Corporation, a Business Development Company, in the fourth quarter of 2016, helping to raise $65,000,000 in gross proceeds for our client.
Saratoga Investment Corporation intends to use the net proceeds of this retail notes offering to fund the early redemption of its 7.50% Series 2020 Senior Notes. The Company has granted the underwriters a 30-day option to purchase additional notes worth $9.75 million in aggregate principal value to cover over-allotments.
About the Companies
Saratoga Investment Corp. is a publicly traded business development company which provides customized financing solutions for middle market companies located in the United States. Within the BDC, Saratoga manages both an SBIC-fund, and a Collateralized Loan Obligation fund, along with its traditional BDC middle market investments.
BB&T Capital Markets Financial Services Group has extensive experience providing community banks and thrifts, business development companies, and other specialty finance companies with a full range of public and private capital raising solutions, M&A advisory, fairness opinions and other strategic advisory services.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 11 distinct industry verticals including Aerospace, Defense & Government Services; Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.