Stellus Capital Investment Corporation 6.5% Notes Due 2019
By: Tim McPartland,
Date Issued 5/5/2014
Shares Issued 1,000,000 Plus 150,000 available for over-allotment
S&P Rating NR Moodys Rating NR
Security Ticker Symbol SCQ
Market Traded ON NYSE
Ex-dividend Date estimated at 26th-28 of January, April, July and October
Record Dates are the 1st of February, May, August and November
Interest Payment Paid on the 15th of February, May, August and November beginning on 8/15/2014
Quarterly Interest .4063 Annual Interest 1.625
Securities may be redeemed, at the issuers option, as early as 4/30/2016 for a redemption price of $25/share plus accrued interest.
Interest Payment Will NOT be a Qualified Distributions. Preferential tax treatment is not available on interest payments (only on dividends)
Maturity Date 4/30/2019
It should be noted that debt issues with maturity dates of just 5 years (such as this issue) typically are less volatile as they have a date certain maturity. Issues that have maturity dates 20, 30 or 40 years in the future will move violently if interest rates move higher.
Below you can find the offering Prospectus and Final Pricing Document