Mount Logan Capital Inc. announced a registered underwritten public offering of senior unsecured notes called the 'Notes'.
The Notes will be issued in denominations of $25 and are expected to pay interest quarterly.
Lucid Capital Markets, LLC, Piper Sandler & Co., and BC Partners Securities LLC are the joint bookrunners for the offering.
Offering Details
The Notes will be listed on the Nasdaq Global Market under the trading symbol 'MLCIL' and are expected to be rated 'BBB-' by Egan-Jones Ratings Company.
Use of Proceeds
Mount Logan plans to use the net proceeds for the repayment of outstanding indebtedness under its credit facility and for general corporate purposes.
Underwriters
Lucid Capital Markets, LLC, Piper Sandler & Co., BC Partners Securities LLC are acting as the joint bookrunners, while Canaccord Genuity LLC, William Blair & Company, L.L.C., and Wedbush Securities Inc. are the co-managers for the offering.
- Mount Logan aims to generate durable revenue through the offering of senior unsecured notes.
- The expected rating by Egan-Jones Ratings Company and listing on the Nasdaq Global Market enhance the credibility and visibility of Mount Logan.
- The use of proceeds for debt repayment and general corporate purposes indicates strategic financial planning.
The offering of senior unsecured notes by Mount Logan Capital Inc. reflects the company's effort to strengthen its financial position and support its long-term growth objectives.