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Newtek Business Services prices note offering

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Newtek Business Services prices note offering

Newtek Business Services Corp. has priced its public offering of $50.0 million of 6.25% notes due March 1, 2023.

Interest is payable quarterly on March 1, June 1, Sept. 1 and Dec. 1, of each year, beginning June 1. The notes are expected to be delivered on or about Feb. 21. Newtek has also granted the underwriters an option to purchase up to an additional $7.5 million of the notes to cover any overallotments.

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