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Prospect Capital prices, announces notes offering

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Prospect Capital prices, announces notes offering

Prospect Capital Corp. has priced an offering of $691,000 principal amount of 4.250% unsecured notes due March 15, 2023, and $1.2 million principal amount of 4.750% unsecured notes due March 15, 2026.

The trade date is March 12, and the settle date is March 15. Interest on the notes will begin to accrue March 15 and will be payable March 15 and Sept. 15 of each year, starting Sept. 15. The net proceeds were $682,362.50 from the sale of the 4.250% notes and about $1.2 million from the sale of the 4.750% notes.

Prospect Capital has also filed a preliminary pricing supplement for the sale of 4.500% notes due March 15, 2023, and 5.000% notes due March 15, 2026.

The trade date is March 19, and the settle date is March 22. Interest on the notes will begin to accrue March 22 and will be payable March 15 and Sept. 15 of each year, starting Sept. 15.

The company intends to use the net proceeds from selling securities initially to maintain balance sheet liquidity, involving repayment of debt under its credit facility and investments in short-term debt, and to make long-term investments.

Incapital LLC is the purchasing agent, while Citigroup Global Markets Inc. and RBC Capital Markets LLC are the agents.