Mount Logan Capital Inc. (Nasdaq: MLCI) announced the commencement of a registered underwritten public offering of senior unsecured notes.
The Notes will be issued in denominations of $25 and integral multiples of $25 in excess thereof, with expected quarterly interest payments.
The public offering price, interest rate, and other terms of the Notes will be determined through negotiations with underwriters.
Notes Offering
Mount Logan Capital Inc. commences a registered underwritten public offering of senior unsecured notes.
Denominations
Notes will be issued in $25 denominations and multiples with expected quarterly interest payments.
Rating and Listing
Egan-Jones Ratings Company expects to rate the Notes 'BBB-' and they are expected to be listed on the Nasdaq Global Market as "MLCIL".
Use of Proceeds
Mount Logan plans to use the net proceeds for the repayment of outstanding indebtedness and general corporate purposes.
Underwriters
Lucid Capital Markets, LLC, Piper Sandler & Co., and BC Partners Securities LLC are the joint bookrunners for the offering.
- Mount Logan's offering indicates a strategic move to raise capital through senior unsecured notes.
- The expected listing on the Nasdaq Global Market underlines the company's aim for visibility and accessibility to investors.
Mount Logan Capital Inc.'s offering of senior notes showcases a strategic approach to capital management and growth.