04:30 AM EDT, 04/10/2024 (MT Newswires) -- Great Elm Capital ( GECC ) said late Tuesday it priced a $30 million offering of 8.50% notes due 2029.

The company granted the underwriters a 30-day option to purchase up to $4.5 million of additional notes to cover any over-allotments.

The company intends to use the net proceeds to redeem or repurchase a portion of its $45.6 million of outstanding 6.75% unsecured notes due 2025 and $57.5 million of 5.875% unsecured notes due 2026. It may also, among other things, repurchase a portion of its outstanding $40 million of 8.75% unsecured notes due 2028.