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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 initiated the distribution of proxy materials for its 2021 Annual Meeting of Stockholders, scheduled for September 27, 2021. Stockholders are encouraged to vote their shares promptly to mitigate solicitation costs, especially due to potential delays caused by Covid-19. The Annual Meeting will take place at Eversheds Sutherland in New York. Stockholders of record as of July 30, 2021, are eligible to vote. Saratoga also provides financing solutions to U.S. middle-market businesses, with a focus on generating attractive returns.
Saratoga Investment Corp. (NYSE: SAR) has successfully completed a public offering of $125 million in additional 4.375% notes due 2026, netting approximately $123.5 million. This issuance is an extension of previously issued notes, bringing total outstanding to $175 million. The new notes will mature on February 28, 2026, with a semi-annual interest payment starting August 28, 2021. Proceeds will be used to redeem existing higher-rate notes, reduce revolving credit debt, and invest in middle-market companies.
Saratoga Investment Corp. (NYSE: SAR) priced a public offering of $125 million of 4.375% notes due 2026 on July 15, 2021. The notes are issued at a price of 101.00%, yielding approximately 4.1%. Accrued interest will be paid to note holders on August 28, 2021. This issuance increases the total outstanding 4.375% notes to $175 million. The proceeds will be used to redeem previously issued notes, repay debt, invest in middle-market companies, and for general corporate purposes. The offering is expected to close on July 20, 2021.
Saratoga Investment Corp. (NYSE:SAR) announced its fiscal Q1 2022 results, reporting net investment income of $2.6 million ($0.23 per share). The company achieved a record AUM of $677.8 million, up 40.4% year-over-year. NAV per share rose to $28.70, marking a 5.3% quarterly increase. Earnings per share also improved to $1.88 compared to a loss of $(2.02) a year prior. The company declared a dividend of $0.44 per share and maintained a strong balance sheet with $20 million in cash and significant undrawn borrowing capacity. The results signal robust portfolio performance and strategic growth opportunities.
Saratoga Investment Corp. (NYSE:SAR) is set to announce its financial results for Q1 2022 on July 8, 2021. The conference call will be hosted at 10:00 a.m. ET, featuring key executives including CEO Christian L. Oberbeck and CFO Henri J. Steenkamp. Investors can participate via dial-in or webcast, with a replay available until July 15. The Q1 2022 financial report, including detailed metrics, will be filed with the SEC on July 7, 2021. Saratoga specializes in providing financing solutions to middle-market businesses through various debt and equity investments.
Saratoga Investment Corp. (NYSE:SAR) has declared a quarterly dividend of $0.44 per share, marking an increase of $0.01 from the previous quarter. This dividend, payable on June 29, 2021, is for stockholders of record by June 15, 2021. The company emphasizes its strong financial performance driven by a healthy credit profile and ongoing asset growth. This dividend declaration is part of its strategy to provide attractive risk-adjusted returns while sustaining long-term growth.
Saratoga Investment Corp. (SAR) reported its fiscal year-end 2021 financial results, revealing a total investment income of $57.7 million, a slight decline from $58.4 million in the previous year. The net investment income per share was $2.07, down from $1.59 year-over-year. Assets under management increased by 14.1% to $554.3 million. Despite challenges posed by the pandemic, the company declared a quarterly dividend of $0.43 per share, marking an increase from the previous quarter. The NAV per share reached $27.25, reflecting a marginal growth. However, the return on equity fell to 5.0% compared to 23.6% last year.
Saratoga Investment Corp. (NYSE:SAR) has rescheduled its conference call to discuss Q4 and FY 2021 results for May 6, 2021, at 1:00 p.m. ET. This adjustment aims to offer analysts and investors a less crowded timeslot for participation. The results will be released on May 5, 2021, post-market. Interested parties can join via phone or webcast. Saratoga Investment specializes in providing customized financing solutions to U.S. middle-market businesses, focusing on senior loans, mezzanine debt, and equity investments to achieve attractive risk-adjusted returns.
Saratoga Investment Corp. (NYSE:SAR) will announce its financial results for the fiscal year ending February 28, 2021, on May 6, 2021. The call will feature CEO Christian L. Oberbeck and CFO Henri J. Steenkamp, and will be accessible via phone or webcast. Saratoga Investment focuses on providing financing solutions for U.S. middle-market businesses through senior loans, mezzanine debt, and equity investments, aiming for attractive risk-adjusted returns. The company holds a $650 million collateralized loan obligation fund.
Saratoga Investment Corp. (NYSE:SAR) announced a quarterly dividend of $0.43 per share for the fiscal quarter ending February 28, 2021, an increase of $0.01 from the previous quarter. This dividend will be payable on April 22, 2021, to shareholders of record as of April 8, 2021. The company attributes its ability to increase dividends to strong financial performance, a healthy credit profile, and a robust deal pipeline.
In fiscal year 2021, dividends declared included $0.42, $0.41, and $0.40 per share for the previous quarters.
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