Mount Logan Capital Inc. announced a registered underwritten public offering of senior unsecured notes.
The Notes will be issued in denominations of $25 and are expected to pay interest quarterly.
The public offering price, interest rate, and other terms of the Notes will be determined through negotiations.
The issuance of senior unsecured notes marks a strategic move by Mount Logan Capital Inc. to diversify its capital structure and raise funds for potential growth initiatives.
Offering Details
The Notes are expected to be listed on the Nasdaq Global Market under the trading symbol 'MLCIL' and rated 'BBB-' by Egan-Jones Ratings Company.
Underwriters
Lucid Capital Markets, LLC, Piper Sandler & Co., and BC Partners Securities LLC are joint bookrunners, with Canaccord Genuity LLC and others as co-managers.
Use of Proceeds
Expected use of net proceeds from the offering includes debt repayment and general corporate purposes. The strategic allocation of funds demonstrates Mount Logan's focus on optimizing its capital structure and enhancing long-term financial flexibility.
- Mount Logan aims to use the offering proceeds strategically, balancing debt reduction and corporate investment. By securing a 'BBB-' rating for the Notes and listing them on Nasdaq, the Company seeks to enhance its visibility and access to capital markets, potentially strengthening its liquidity position and credit profile.
The strategic issuance of senior notes by Mount Logan Capital Inc. reflects a deliberate effort to optimize its financial position and support future growth initiatives. Investors should assess the potential benefits and risks associated with the offering before making investment decisions in MLCI.