Investment Company Act

KBRA Assigns Ratings to Mandatory Redeemable Preferred Shares Issued by Six Calamos Closed-End Funds

Retrieved on: 
Wednesday, December 16, 2020
Banking, Professional services, Insurance, Finance, Finance, Calamos, Money, Investment, Nationally recognized statistical rating organization, Investment Company Act, Credit rating agency, NASDAQ, Market liquidity

The Funds were established by Calamos as diversified, closed-end management investment companies under the Investment Company Act of 1940 (the 1940 Act).

Key Points: 
  • The Funds were established by Calamos as diversified, closed-end management investment companies under the Investment Company Act of 1940 (the 1940 Act).
  • The Funds are each traded on the Nasdaq Global Select Market exchange under their respective tickers.
  • The ratings assigned to the MRPS are driven by a combination of the Funds historically strong asset coverage ratios and liquidity coupled with Calamos demonstrated management capabilities.
  • KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission.

Saratoga Investment Corp. Announces Exercise and Closing of Underwriters’ Option to Purchase Additional 7.25% Notes Due 2025

Retrieved on: 
Monday, July 6, 2020
Economy, Finance, Money, Credit rating agency, Business Development Company, Investment company, Investment Company Act

The Company received an investment grade private rating of BBB from Egan-Jones Ratings Company, an independent, unaffiliated rating agency.

Key Points: 
  • The Company received an investment grade private rating of BBB from Egan-Jones Ratings Company, an independent, unaffiliated rating agency.
  • Investors are advised to consider carefully the investment objective, risks and charges and expenses of the Company before investing.
  • Saratoga Investment Corp. has elected to be regulated as a business development company under the Investment Company Act of 1940 and is externally-managed by Saratoga Investment Advisors, LLC, an SEC-registered investment advisor focusing on credit-driven strategies.
  • Saratoga Investment Corp. owns two SBIC-licensed subsidiaries and manages a $500 million collateralized loan obligation (CLO) fund.

Garrison Capital Inc. to Merge with Portman Ridge Finance Corporation

Retrieved on: 
Thursday, June 25, 2020
Finance, Money, Economy, Private equity, Venture capital, Business Development Company, Equity securities, Investment Company Act, Stock, BDC

In addition to approval by GARS and PTMNs respective stockholders, the closing of the merger is subject to customary conditions.

Key Points: 
  • In addition to approval by GARS and PTMNs respective stockholders, the closing of the merger is subject to customary conditions.
  • We are very excited to merge Garrison Capital Inc. with Portman Ridge Finance Corporation, as it represents the continued execution of our vision for consolidation in the BDC space and is expected to be an accretive transaction for GARS and PTMN stockholders.
  • Garrison Capital Inc. is an externally managed, non-diversified, closed-end management Investment Company that has elected to be treated as a business development company under the Investment Company Act of 1940.
  • Portman Ridge Finance Corporation (NASDAQ: PTMN) is a publicly traded, externally managed investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940.

Garrison Capital Inc. to Merge with Portman Ridge Finance Corporation

Retrieved on: 
Thursday, June 25, 2020
Finance, Money, Economy, Private equity, Venture capital, Business Development Company, Equity securities, Investment Company Act, Stock, BDC

In addition to approval by GARS and PTMNs respective stockholders, the closing of the merger is subject to customary conditions.

Key Points: 
  • In addition to approval by GARS and PTMNs respective stockholders, the closing of the merger is subject to customary conditions.
  • We are very excited to merge Garrison Capital Inc. with Portman Ridge Finance Corporation, as it represents the continued execution of our vision for consolidation in the BDC space and is expected to be an accretive transaction for GARS and PTMN stockholders.
  • Garrison Capital Inc. is an externally managed, non-diversified, closed-end management Investment Company that has elected to be treated as a business development company under the Investment Company Act of 1940.
  • Portman Ridge Finance Corporation (NASDAQ: PTMN) is a publicly traded, externally managed investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940.

Saratoga Investment Corp. to Report Fiscal First Quarter 2021 Financial Results and Hold Conference Call

Retrieved on: 
Monday, June 22, 2020
Economy of the United States, 76th United States Congress, Financial history of the United States, Investment Company Act, U.S. Securities and Exchange Commission, Registered Investment Adviser, Economy, Finance

Information: Saratoga Investment Corp.s Form 10-Q for the fiscal quarter ended May 31, 2020, will be filed on July 8, 2020, with the Securities and Exchange Commission.

Key Points: 
  • Information: Saratoga Investment Corp.s Form 10-Q for the fiscal quarter ended May 31, 2020, will be filed on July 8, 2020, with the Securities and Exchange Commission.
  • Saratoga Investment is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses.
  • Saratoga Investment has elected to be regulated as a business development company under the Investment Company Act of 1940 and is externally-managed by Saratoga Investment Advisors, LLC, an SEC-registered investment advisor focusing on credit-driven strategies.
  • The Companys diverse funding sources, combined with a permanent capital base, enable Saratoga Investment to provide a broad range of financing solutions.

Saratoga Investment Corp. Prices Public Offering of $37.5 Million 7.25% Notes Due 2025

Retrieved on: 
Wednesday, June 17, 2020
Economy, Finance, Money, Loans, Business Development Company, Private equity, Venture capital, Collateralized loan obligation, Investment Company Act

NEW YORK, NY , June 17, 2020 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (the Company) (NYSE: SAR) today announced that it has priced an underwritten public offering of $37.5million in aggregate principal amount of 7.25% unsecured notes due 2025 (the Notes).

Key Points: 
  • NEW YORK, NY , June 17, 2020 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (the Company) (NYSE: SAR) today announced that it has priced an underwritten public offering of $37.5million in aggregate principal amount of 7.25% unsecured notes due 2025 (the Notes).
  • The Company has granted the underwriters an option to purchase up to an additional $5.625million in aggregate principal amount of Notes.
  • Saratoga Investment Corp. has elected to be regulated as a business development company under the Investment Company Act of 1940 and is externally-managed by Saratoga Investment Advisors, LLC, an SEC-registered investment advisor focusing on credit-driven strategies.
  • Saratoga Investment Corp. owns two SBIC-licensed subsidiaries and manages a $500 million collateralized loan obligation (CLO) fund.

Saratoga Investment Corp. Announces Offering of Notes Due 2025 and BBB Investment Grade Rating from Egan-Jones Ratings Company

Retrieved on: 
Wednesday, June 17, 2020
Finance, Economy, Money, 76th United States Congress, Financial history of the United States, Investment company, Investment management, Business Development Company, Investment Company Act, Registered Investment Adviser

NEW YORK, NY , June 17, 2020 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (the Company) (NYSE: SAR) announced the commencement of a registered public offering of Notes due 2025 (the Notes).

Key Points: 
  • NEW YORK, NY , June 17, 2020 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (the Company) (NYSE: SAR) announced the commencement of a registered public offering of Notes due 2025 (the Notes).
  • The Company also announced that it has received an investment grade rating of BBB fromEgan-Jones Ratings Company, an independent, unaffiliated rating agency.
  • Investors are advised to consider carefully the investment objective, risks and charges and expenses of the Company before investing.
  • Saratoga Investment Corp. has elected to be regulated as a business development company under the Investment Company Act of 1940 and is externally-managed by Saratoga Investment Advisors, LLC, an SEC-registered investment advisor focusing on credit-driven strategies.

THL Credit, Inc. Stockholders Approve New Investment Management Agreement

Retrieved on: 
Thursday, May 28, 2020
Economy of the United States, Legal entities, 76th United States Congress, Financial history of the United States, First Eagle Investment Management, Limited liability company, Companies, Investment Company Act

The new investment management agreement replaces a prior interim agreement with the Adviser, and is effective immediately.

Key Points: 
  • The new investment management agreement replaces a prior interim agreement with the Adviser, and is effective immediately.
  • First Eagle Alternative Credit is a leading investment manager formed by the combination of THL Credit Advisors LLC and First Eagle Investment Management, LLCs (First Eagle) credit business.
  • THL Credit, Inc. (NASDAQ: TCRD) is a closed-end management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940.
  • First Eagle Alternative Credit is a wholly owned subsidiary of First Eagle Investment Management, LLC.

Portman Ridge Finance Corporation Announces First Quarter 2020 Financial Results

Retrieved on: 
Thursday, May 7, 2020
Finance, Money, Financial markets, Corporate finance, Private equity, Stock market, 76th United States Congress, Financial history of the United States, Investment Company Act, Business Development Company, Stock

The distribution is payable on May 27, 2020 to stockholders of record at the close of business as of May 7, 2020.

Key Points: 
  • The distribution is payable on May 27, 2020 to stockholders of record at the close of business as of May 7, 2020.
  • We will hold a conference call on Thursday May 7, 2020 at 9:00 am Eastern Time to discuss our first quarter 2020 financial results.
  • Portman Ridge Finance Corporation (NASDAQ: PTMN) is a publicly traded, externally managed investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940.
  • Further information about factors that could affect our financial and other results is included in our filings with the SEC.

THL Credit, Inc. Schedules First Quarter 2020 Earnings Release and Conference Call

Retrieved on: 
Thursday, April 9, 2020
Economy of the United States, Economy of New York City, NASDAQ, Conference call, Investment Company Act, Dial, Finance

The Company will host a conference call to discuss these results and its business outlook on Friday, May 8, 2020, at 9:30 a.m. Eastern Time.

Key Points: 
  • The Company will host a conference call to discuss these results and its business outlook on Friday, May 8, 2020, at 9:30 a.m. Eastern Time.
  • For those wishing to participate by telephone, please dial (877) 375-9141 (domestic) or (253) 237-1151 (international) and use passcode 7997284.
  • The Company will also broadcast the conference call live via the Investor Relations section of its website at www.THLCreditBDC.com.
  • THL Credit, Inc. (NASDAQ: TCRD) is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940.