Mount Logan Capital Inc. announced a registered underwritten public offering of senior unsecured notes.
The notes will be issued in denominations of $25 and expected to pay interest quarterly.
The offering price, interest rate, and terms will be determined through negotiations with underwriters.
Offering Details
Mount Logan Capital Inc. is issuing senior unsecured notes in $25 denominations with a quarterly interest payment structure, offering investors a potential fixed income investment option.
Rating and Listing
The senior notes are anticipated to receive a 'BBB-' rating from Egan-Jones Ratings Company, positioning them in the investment-grade category, and will be listed on the Nasdaq Global Market as 'MLCIL' for trading.
Underwriters
Lucid Capital Markets, Piper Sandler & Co., and BC Partners Securities are the lead bookrunners for this offering, showcasing confidence in the issuance, with additional support from co-managers Canaccord Genuity, William Blair & Company, and Wedbush Securities.
Use of Proceeds
Mount Logan Capital Inc. intends to utilize the net proceeds from the offering to repay existing debt under its credit facility and fund general corporate activities, aiming to strengthen its financial position and support strategic initiatives.
- The issuance of senior notes represents Mount Logan Capital Inc.'s strategic move to enhance its capital structure and optimize funding costs, potentially improving its financial stability and operational flexibility.
- Investors evaluating this offering should assess the potential impact on the company's leverage, interest expense, and overall credit profile as they consider the risk-return trade-offs associated with investing in these securities.
Mount Logan Capital Inc.'s decision to issue senior unsecured notes underscores its proactive approach to managing capital and optimizing its financial resources. This offering not only provides investors with an opportunity to participate in the company's growth but also signals management's commitment to enhancing its debt profile and supporting future business objectives.