Mount Logan Capital Inc. announced the commencement of 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 offering aims to raise funds for repayment of outstanding indebtedness and general corporate purposes.
Offering Details
Senior unsecured notes to be issued in denominations of $25, with an expected 'BBB-' rating by Egan-Jones Ratings Company.
Underwriters
Lucid Capital Markets, LLC, Piper Sandler & Co., and BC Partners Securities LLC acting as joint bookrunners for the offering.
Use of Proceeds
Funds raised to be primarily utilized for debt repayment and general corporate purposes.
- The offering provides Mount Logan Capital Inc. with an opportunity to strengthen its financial position through the repayment of outstanding indebtedness.
- The planned listing of the Notes on the Nasdaq Global Market under the trading symbol 'MLCIL' will enhance the company's visibility in the market.
Mount Logan Capital Inc.'s decision to launch a public offering of senior unsecured notes demonstrates its strategic approach to managing its capital structure and funding needs.