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Gladstone Investment makes combined equity and debt investments in established private businesses in the U.S., in connection with buyouts or other recapitalizations of those companies. Equity investments primarily take the form of preferred…
ir.gladstoneinvestment.com
NOTES: 6.00 % Notes (due 2040) |
The Notes will be direct unsecured obligations and will rank pari passu, or equal in right of payment, with our existing and future unsecured, unsubordinated indebtedness; senior to any series of preferred stock currently outstanding or that we may issue in the future; senior to any of our future indebtedness that expressly provides it is subordinated to the Notes; effectively subordinated to all our existing and future secured indebtedness (including indebtedness that is initially unsecured to which we subsequently grant security), to the extent of the value of the assets securing such indebtedness; and structurally subordinated to all existing and future indebtedness and other obligations of any of our subsidiaries and any of our future subsidiaries, including borrowings under the Company’s bank credit facility.
| PURCHASE PRICE & INTEREST RATE: $23.50 per Note. 6.38% effective interest |
We will issue the Notes in denominations of $25 and integral multiples of $25 in excess thereof. Minimum initial investment of $5,000. No minimum for qualified retirement accounts. The interest rate of the Notes is 6.00% on the $25 per Note par value and will be paid on the first day of each month, commencing on the first day of the month following the issuance of such Note. The regular record dates for interest payment will be the 15th day of the month immediately preceding the relevant interest payment date. Interest on the Notes will be computed on the basis of a 360-day year composed of twelve 30-day months.