The Notes will constitute a further issuance of, have the same terms (except the issue date, the offering price and the initial interest payment date) as, rank equally in right of payment with, and be fungible and form a single series with the $100 million in aggregate principal amount of the 6.750% notes due 2030 that the Company initially issued on March 19, 2025. Upon the issuance of the Notes, the outstanding aggregate principal amount of the Company's 6.750% notes due 2030 will be $200 million.
The Notes will mature on March 19, 2030, and may be redeemed in whole or in part at the Company's option at any time prior to September 19, 2029 at par plus a "make-whole" premium, and at par thereafter. The Notes will bear interest at a rate of 6.750% per year payable semi-annually on March 19 and September 19 of each year. The offering is expected to close on October 3, 2025, subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from this offering to redeem in full the outstanding 4.75% notes due 2026 of the Company.
Raymond James & Associates, Inc. and ING Financial Markets LLC are acting as book-runners for this offering. Keefe, Bruyette & Woods, A Stifel Company and Oppenheimer & Co. Inc. are acting as lead managers for this offering. B. Riley Securities, Inc. and Clear Street LLC are acting as co-managers for this offering.
Investors are advised to consider carefully the investment objective, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement dated October 1, ...
