Great Elm Capital Announces Commencement Of An Underwritten Public Offering Of Unsecured Notes Due 2029
Portfolio Pulse from Benzinga Newsdesk
Great Elm Capital Corp. (NASDAQ:GECC) has announced an underwritten public offering of unsecured notes due 2029, expected to trade under the symbol 'GECCH' on Nasdaq. The proceeds will be used to redeem existing 6.75% notes due 2025.
September 12, 2024 | 12:41 pm
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Great Elm Capital is issuing new unsecured notes due 2029 to redeem its existing 6.75% notes due 2025. This could improve its debt profile and financial flexibility.
The issuance of new notes to redeem existing ones can be seen as a strategic move to manage debt more effectively, potentially lowering interest expenses and extending debt maturity. This is likely to be viewed positively by investors.
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