trending Market Intelligence /marketintelligence/en/news-insights/trending/22mgydqpdgueultlulnuaa2 content esgSubNav
In This List

Newtek Business Services files for notes offering


Latin American and Caribbean Market Considerations Blog Series: Focus on LGD


Banking Essentials Newsletter: June Edition

Case Study

กรณีศึกษา A Bank Takes its Project Finance Assessments to a New Level


Financial Institutions Factor Transition Risk into Climate-Related Stress Testing

Newtek Business Services files for notes offering

Newtek Business Services Corp. has filed a preliminary prospectus supplement related to the sale of $40 million of notes due March 1, 2023.

The company will pay interest on the notes on March 1, June 1, Sept. 1 and Dec. 1 of each year, starting June 1. The company may redeem the notes in whole or in part at any time or from time to time on or after March 1, 2020.

Newtek Business Services intends to use the net proceeds from the offering to partially or fully redeem its outstanding 2021 notes due March 31, 2021, which bear interest at a rate of 7.00%. Any remaining net proceeds will be used to increase lending activity, to make direct investments in portfolio companies and for general corporate purposes.

Keefe Bruyette & Woods Inc. is acting as book-running manager for the offering. BB&T Capital Markets, Compass Point Research & Trading LLC, D.A. Davidson & Co. and Ladenburg Thalmann & Co. Inc. are acting as co-managers.