Mount Logan Capital Inc. (NASDAQ: MLCI) has begun a registered underwritten public offering of senior unsecured notes. The notes will be issued in denominations of $25 and integral multiples, with quarterly interest payments, and are expected to receive a ‘BBB‑’ rating from Egan‑Jones Ratings Company. The offering is being led by Lucid Capital Markets, LLC, Piper Sandler & Co. and BC Partners Securities LLC, with Canaccord Genuity LLC, William Blair & Co., L.L.C. and Wedbush Securities Inc. acting as co‑managers.
The company plans to use the net proceeds to repay outstanding debt under its credit facility and to fund general corporate purposes. By reducing leverage, Mount Logan aims to strengthen its balance sheet and preserve liquidity for future growth initiatives within its integrated asset‑management and insurance platform. The repayment of the credit facility also signals confidence in the company’s ability to refinance at favorable terms, while the general corporate allocation supports ongoing operational and strategic investments.
Mount Logan’s recent reverse acquisition of 180 Degree Capital and the transition to U.S. GAAP reporting have reshaped its financial profile. As of September 30, 2025, the combined entity managed more than $2.1 billion in assets and operates through subsidiaries Mount Logan Management LLC and Ability Insurance Company. The company has not been profitable over the last twelve months, reporting a negative earnings yield of –9%. The new debt issuance is therefore a key tool for addressing the company’s current unprofitability and for positioning the firm for a return to positive earnings as its integrated platform matures.
The senior notes offering is a strategic move to deleverage and enhance liquidity. A ‘BBB‑’ rating places the notes in the lower investment‑grade spectrum, reflecting moderate credit risk but also providing a cost‑effective financing option. The involvement of prominent underwriters—Lucid Capital Markets, Piper Sandler, BC Partners, Canaccord, William Blair and Wedbush—underscores market confidence in the transaction and will facilitate a smooth placement of the notes on the Nasdaq Global Market under the symbol “MLCIL” within 30 days of the issue date.
The preliminary prospectus for the offering was dated January 12, 2026, and the notes will pay interest quarterly. The structured terms, combined with Mount Logan’s recent corporate transformations, position the company to better manage its capital structure and support future growth in both its asset‑management and insurance businesses.
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