On 28th March, 2017, (STI) announced the pricing of a $50 mill public offering of 8.25% senior unsecured notes, due 2019. The company may redeem the notes in whole or in part, at any time on or after 1st December, 2018, at a redemption price equal to 100% of the principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.
STI granted the underwriters of the offering a 30-day option to purchase up to an additional $7.5 mill of the notes on the same terms and conditions. The offering closed on 31st March, 2017.