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PASADENA, Calif., Oct. 20, 2020 (GLOBE NEWSWIRE) -- General Finance Corporation (NASDAQ:GFN), a leading specialty rental services company offering portable storage, modular space and liquid containment solutions (the “Company”), announced that it commenced an underwritten public offering of Senior Notes due 2025 (the “Notes”) today.
The Company intends to use the net proceeds from the Notes offering to redeem a portion of the $77.4 million principal amount of its 8.125% Senior Notes due July 2021.
D.A. Davidson & Co., B. Riley Securities, Inc. and Janney Montgomery Scott LLC are acting as joint book-running managers for the Notes offering. William Blair & Company, National Securities Corporation and Wedbush Securities, Inc. will serve as co-lead managers for the offering.

Resta amercato la preferred 9,2%
 
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PASADENA, Calif., Oct. 20, 2020 (GLOBE NEWSWIRE) -- General Finance Corporation (NASDAQ:GFN), a leading specialty rental services company offering portable storage, modular space and liquid containment solutions (the “Company”), announced that it commenced an underwritten public offering of Senior Notes due 2025 (the “Notes”) today.
The Company intends to use the net proceeds from the Notes offering to redeem a portion of the $77.4 million principal amount of its 8.125% Senior Notes due July 2021.
D.A. Davidson & Co., B. Riley Securities, Inc. and Janney Montgomery Scott LLC are acting as joint book-running managers for the Notes offering. William Blair & Company, National Securities Corporation and Wedbush Securities, Inc. will serve as co-lead managers for the offering.

Resta amercato la preferred 9,2%
qualcosa della 2021 dovrebbe rimanere visto che dice 'a portion', spero ne lascino almeno la metà, era meglio venderle in tempo, ormai a 25,10 me le tengo finchè me le lasciano.
 
Sachem Capital Corp. (NYSE American: SACH) announces the commencement of a registered public offering of unsecured, unsubordinated notes (“Notes”). The Notes will be a further issuance of, rank equally in right of payment with and form a single series for all purposes under the indenture governing the Notes with the $14,363,750 aggregate principal amount of 7.75% Notes due 2025 that the company issued in September 2020 (collectively referred to as the “September 2025 Notes”).
The current outstanding and planned September 2025 Notes will rank pari passu with all the company’s unsecured, unsubordinated indebtedness, whether currently outstanding or issued in the future. The planned Notes are expected to be listed on the NYSE American under the trading symbol “SCCC,” along with the aforementioned outstanding September 2025 Notes.
 
Fitch Ratings revises its rating outlook for the business development company sector to negative as it expects BDCs' asset coverage to be pressured heading into 2021.
Credit performance across BDC portfolios is expected to deteriorate next year due to the continuing impact of the COVID-19 pandemic on the economy, the ratings company said.
"Outsized losses could result from an uptick in non-accruals and covenant amendments for distressed borrowers," said Fitch Director Chelsea Richardson. "If credit losses rise and valuation volatility returns, asset coverage cushions will be pressured relative to targeted levels."
Asset quality deterioration has been expected for several years, but now cash earnings will also be hurt by lower interest rates, high non-accrual levels, and an increase in paid-in-kind income, which will lead to weaker dividend coverage for some BDCs, according to "Fitch Ratings 2021 Outlook: Business Development Companies (Credit Issues Will Test Sufficiency of Asset Coverage Cushions)".
Solid funding flexibility offsets some of the pressures weighing on the sector, the report said.
45.5% of rated BDCs' debt, on average, was unsecured at June 30, 2020. Five rated BDCs took advantage of attractive market conditions to issue $2.5B in aggregate unsecured debt in Q3 2020 and $4.7B has been issued YTD.
In July, Main Street Capital priced an additional $125M of notes, Ares Capital price a $750M notes offering, and in August Gladstone Investment started a continuous public offering of up to $350M of notes.
 
Medley Capital (NYSE:MCC) plans to issue notices to holders of its 6.500% notes due 2021; it seeks to redeem $74.0M in principal amount of the issued and outstanding notes on Nov.20, 2020.
Notes will be redeemed at 100% of their principal amount ($25/note), plus accrued and unpaid interest thereon from Oct.31, 2020, through, but excluding, the redemption date.
Interest payment to the notes-holders of record on Oct. 15, 2020 payable on Oct. 31, 2020 will be payable in normal course.
 
Medley Capital (NYSE:MCC) plans to issue notices to holders of its 6.500% notes due 2021; it seeks to redeem $74.0M in principal amount of the issued and outstanding notes on Nov.20, 2020.
Notes will be redeemed at 100% of their principal amount ($25/note), plus accrued and unpaid interest thereon from Oct.31, 2020, through, but excluding, the redemption date.
Interest payment to the notes-holders of record on Oct. 15, 2020 payable on Oct. 31, 2020 will be payable in normal course.

Ma non scade mica a gennaio 2021? La richiamano a ottobre 2020?
 

General Finance (NASDAQ:GFN)
prices an underwritten public offering of $60M in principal amount of 7.875% Senior Notes due 2025.
Offering expected to close on or about October 27, 2020.
The company expects to list the notes on the NASDAQ Global Market under the symbol 'GFNSZ' and to commence trading within 30 days of the original issue date.
Company intends to use the net proceeds to redeem a portion of the $77.4M principal amount of its 8.125% Senior Notes due July 2021.
Press Release
 
General Finance (NASDAQ:GFN) prices an underwritten public offering of $60M in principal amount of 7.875% Senior Notes due 2025.
Offering expected to close on or about October 27, 2020.
The company expects to list the notes on the NASDAQ Global Market under the symbol 'GFNSZ' and to commence trading within 30 days of the original issue date.
Company intends to use the net proceeds to redeem a portion of the $77.4M principal amount of its 8.125% Senior Notes due July 2021.
Press Release
Isin US369822AA94
Sconto per i sottoscrittori 3,5%

 

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