Lafayette Square USA, Inc. entered into a Note Purchase Agreement on September 29, 2026, to issue senior notes to qualified institutional investors. The company issued $2,000,000 in aggregate principal amount of 7.82% Series A Senior Notes and $78,000,000 in aggregate principal amount of 8.25% Series B Senior Notes.
The Series A Notes are set to mature on September 29, 2029, while the Series B Notes are scheduled to mature on September 29, 2031. Interest on both series is payable semiannually at fixed rates of 7.82% and 8.25% per annum, respectively.
The notes are general unsecured obligations of the company, ranking pari passu with all other unsecured indebtedness. They are also guaranteed on a senior unsecured basis by LS BDC Holdings, LLC, a wholly owned subsidiary of Lafayette Square USA, Inc.
The Note Purchase Agreement includes customary covenants, such as the maintenance of the company’s status as a business development company and compliance with a minimum consolidated net worth test and a minimum asset coverage ratio. The agreement also contains standard events of default and a provision allowing for prepayment at 100% of the principal amount plus accrued interest in the event of a change in control.
The company intends to use the net proceeds from this offering for general corporate purposes. The notes were offered in reliance on Section 4(a)(2) of the Securities Act of 1933 and were not registered under federal or state securities laws.
