Welcome to our dedicated page for SARATOGA INVESTMENT NEW news (Ticker: SAR), a resource for investors and traders seeking the latest updates and insights on SARATOGA INVESTMENT NEW stock.
Saratoga Investment Corp. (NYSE: SAR) is a renowned publicly traded business development company (BDC) that focuses on providing tailored financing solutions to U.S. middle-market companies. The firm's senior investment professionals boast over 80 years of combined experience, having invested more than $4 billion in various middle-market businesses. Saratoga operates with a diversified funding strategy that includes an SBIC-licensed subsidiary and a $400 million collateralized loan obligation (CLO) fund.
Saratoga's financing solutions encompass a wide range of instruments, including subordinated debt, first and second lien loans, one-stop and unitranche structures, and equity co-investments. This diversity in funding sources, coupled with a permanent capital base, allows Saratoga to meet the unique financing needs of business owners, equity sponsors, fundless sponsors, and family-owned businesses. The company collaborates closely with management teams to create capital structures that support their strategic business goals.
Saratoga's primary focus is on senior and unitranche leveraged loans and mezzanine debt. They also engage in equity investments to facilitate change of ownership transactions, strategic acquisitions, and recapitalizations, aiming to drive growth initiatives in partnership with business owners, management teams, and financial sponsors. The company's objective is to generate attractive risk-adjusted returns by creating both current income and long-term capital appreciation from its debt and equity investments.
Recent achievements include the efficient management of their diverse funding sources and strategic partnerships, which have significantly bolstered their financial condition. The company's broad range of financing solutions and extensive experience make them a preferred partner for middle-market businesses looking to pursue their business plans with confidence.
Latest News:
- Financials
Saratoga Investment Corp. continues to provide supplemental information regarding adjusted net investment income, yield, and per-share metrics to ensure transparency and informed decision-making for their investors.
Contact Information:
Henri Steenkamp, Saratoga Investment Corp.
Phone: 212-906-7800
Saratoga Investment Corp. (SAR) has priced an underwritten public offering of $52.5 million in 8.125% unsecured notes due 2027. The notes, which bear interest payable quarterly, will mature on December 31, 2027, and can be redeemed starting December 13, 2024. The offering is expected to close on December 13, 2022. The company aims to utilize the proceeds for investments in middle-market companies and general corporate purposes. The notes will be listed on the NYSE under the symbol 'SAY' and have received a BBB+ investment grade rating from Egan-Jones Ratings Company.
Saratoga Investment Corp. (NYSE: SAR) announced a public offering of unsecured notes, set to list under the symbol 'SAY' on the NYSE. The company has received a 'BBB+' investment grade rating from Egan-Jones Ratings Company, enhancing its credibility. This offering is geared towards raising capital through unsecured debt, with proceeds expected to support its financing strategies in middle-market businesses. Investors are advised to review the associated prospectus for detailed risk and financial information.
Saratoga Investment Corp (NYSE:SAR) has announced a quarterly dividend of $0.68 per share, reflecting a 26% increase from the prior quarter's $0.54. This dividend is set for payment on January 4, 2023, to shareholders recorded by December 15, 2022. The increase is attributed to strong portfolio performance and a favorable credit profile, bolstered by a 95% floating rate loan asset portfolio. Previously, dividends were $0.54 and $0.53 for the last two quarters of fiscal 2023.
Saratoga Investment Corp. (NYSE: SAR) has announced an underwritten public offering of $40 million in 8.00% unsecured notes due October 31, 2027. The offering aims to close on October 27, 2022, and the notes will be listed on the NYSE under the symbol 'SAJ'. Interest on the notes will be payable quarterly, starting February 28, 2023. Additionally, the company received a 'BBB+' investment grade rating from Egan-Jones Ratings. Proceeds will be used for investments in middle-market companies and general corporate purposes, enhancing the company's capacity for growth.
Saratoga Investment Corp. (NYSE: SAR) has launched a registered public offering of unsecured notes. The offering has received an investment grade rating of “BBB+” from Egan-Jones Ratings Company, which is recognized by key regulatory bodies. The notes are expected to be listed on the New York Stock Exchange under the symbol “SAJ” and will trade within 30 days of issuance. The offering is managed by leading investment banks, and investors are advised to carefully consider risks before investing. A registration statement has been filed with the SEC.
Saratoga Investment Corp. (SAR) reported financial results for its 2023 fiscal second quarter, showing a net investment income of $7.7 million, or $0.64 per share, despite a decline in net asset value (NAV) per share to $28.27. Assets under management (AUM) grew by 43.3% year-over-year to $954.7 million. The company declared a quarterly dividend of $0.54, up from $0.53. However, return on equity fell to 4.8%, a drop from 14.4% the prior year. Additionally, the fair value of investments decreased due to market volatility affecting loan valuations.
Saratoga Investment Corp. (NYSE:SAR) has successfully priced a $400 million CLO, named Saratoga Investment Corp Senior Loan Fund 2022-1 Ltd. (SLF 2022), as of September 30, 2022. This fund is a subsidiary of Saratoga Senior Loan Fund I JV LLC, co-managed by Saratoga Investment and TJHA JV I LLC. The anticipated closing date is October 28, 2022. The CLO structure includes various classes of notes, with a total of $400 million in par value and varying expected ratings from Aaa to Ba3. This transaction boosts Saratoga's CLO assets to over $1 billion.
Saratoga Investment Corp. (NYSE:SAR) has received approval from the Small Business Administration (SBA) for its third Small Business Investment Company (SBIC) license. This license allows the company to access up to $175 million in additional long-term capital through SBA-guaranteed debentures. The maximum outstanding SBA debentures for companies with multiple SBICs is $350 million, requiring at least $175 million in regulatory capital. The company aims to use this funding to support small businesses and enhance its financing solutions.
Saratoga Investment Corp. (NYSE:SAR) will announce its financial results for the quarter ending August 31, 2022, on October 4, 2022, after market close. A conference call discussing these results is scheduled for October 5, 2022, at 10:00 a.m. ET, featuring top executives such as Chairman Christian L. Oberbeck and CFO Henri J. Steenkamp. Investors can join via webcast or phone. The company specializes in providing financing solutions to middle-market businesses and will file its Form 10-Q with the SEC on October 4, 2022.
Saratoga Investment Corp. (NYSE:SAR) announced a quarterly dividend of $0.54 per share for Q2 FY2023, payable on September 29, 2022. The record date is September 14, 2022. This is an increase from the $0.53 dividend declared for the previous quarter. The company's CEO emphasized strong portfolio performance and a healthy credit profile as key factors supporting consistent dividend payments. Saratoga primarily provides financing solutions to middle-market businesses, focusing on generating attractive risk-adjusted returns.
FAQ
What is the current stock price of SARATOGA INVESTMENT NEW (SAR)?
What is the market cap of SARATOGA INVESTMENT NEW (SAR)?
What does Saratoga Investment Corp. do?
What types of financing solutions does Saratoga offer?
Who are the typical partners of Saratoga Investment Corp.?
What is the objective of Saratoga's investment strategy?
What recent achievements has Saratoga reported?
What funding strategies does Saratoga employ?
How much experience do Saratoga's senior investment professionals have?
What is the significance of Saratoga's permanent capital base?
What kind of transactions does Saratoga finance?
How does Saratoga ensure transparency for investors?
