Gladstone Capital Executes Strategic Financial Overhaul

Gladstone Capital is actively reshaping its financial profile through a series of strategic capital market transactions. The business development company is balancing shareholder returns with a comprehensive debt management initiative, demonstrating a proactive approach during a period of market volatility.

In a significant move to strengthen its balance sheet, Gladstone Capital has successfully issued $130 million in convertible notes. The offering carries a coupon rate of 5.875% and matures in 2030. These notes were priced at 98.5% of their face value and feature a conversion price of $26.02 per share, representing a 10% premium to the current trading level. Proceeds from this issuance are earmarked, in part, for the repayment of existing credit facilities.

Concurrently, the company is advancing plans for the early retirement of... Read more...