Mount Logan Capital Inc. (Nasdaq: MLCI) announced a registered underwritten public offering of senior unsecured notes.
The Notes will be issued in denominations of $25 and integral multiples, with quarterly interest payments.
The Notes are expected to be listed on the Nasdaq Global Market under the trading symbol 'MLCIL'.
The company plans to use the net proceeds for repayment of outstanding indebtedness and general corporate purposes.
Offering Details
Senior unsecured notes offered in denominations of $25 with expected quarterly interest payments.
Rating and Listing
Notes expected to be rated 'BBB-' by Egan-Jones Ratings Company and listed on Nasdaq Global Market as 'MLCIL'.
Underwriters
Joint bookrunners include Lucid Capital Markets, LLC, Piper Sandler & Co., and BC Partners Securities LLC with co-managers Canaccord Genuity LLC, William Blair & Company, L.L.C., and Wedbush Securities Inc.
Use of Proceeds
Proceeds intended for repayment of outstanding indebtedness and general corporate purposes.
- The offering provides an opportunity for investors to participate in Mount Logan's growth and strategic initiatives through the issuance of senior unsecured notes.
- The expected rating and listing on Nasdaq Global Market add credibility and visibility to the Company's debt securities.
Mount Logan Capital Inc.'s offering of senior notes represents a strategic step towards strengthening its financial position and pursuing sustainable growth.