Mount Logan Capital Inc. (Nasdaq: MLCI) has initiated a public offering of senior unsecured notes denominations.
The Notes are expected to pay interest quarterly and are anticipated to be rated 'BBB-' by Egan-Jones Ratings Company.
The Company plans to use the net proceeds for debt repayment and general corporate purposes.
Offering Details
Underwritten public offering of senior unsecured notes in denominations of $25 with interest paid quarterly.
Rating and Listing
Expected 'BBB-' rating by Egan-Jones Ratings Company and listing on Nasdaq Global Market under 'MLCIL'.
Underwriters
Lucid Capital Markets, Piper Sandler & Co., and BC Partners Securities are joint bookrunners with Canaccord Genuity, William Blair & Co., and Wedbush Securities as co-managers.
- The offering aims to generate funds for debt reduction and general corporate expenditures, enhancing the company's financial standing.
- The 'BBB-' rating signifies moderate credit risk, potentially attracting a diverse set of investors.
- The involvement of reputable underwriters implies confidence in the Note's performance and market reception.
The offering of senior notes by Mount Logan Capital Inc. represents a strategic move to strengthen its financial position and fund future growth endeavors.