Prospect Capital Corp. is offering about $4.6 million of its 5.000% unsecured notes due Jan. 15, 2022.
The trade date for the notes is Jan. 23, and the settlement date is Jan. 26. Interest on the notes will begin to accrue Jan. 26 and will be payable Jan. 15 and July 15 each year, starting July 15. Net proceeds from the sale of these notes are expected to be about $4.5 million.
The company also filed a preliminary pricing supplement for an undisclosed amount of its 5.000% unsecured notes due Feb. 15, 2022.
The trade date for the notes is Jan. 30, and the settlement date is Feb. 2. Interest on the notes will begin to accrue Feb. 2 and will be payable Feb. 15 and Aug. 15 each year, starting Aug. 15.
Prospect Capital will use the net proceeds to preserve balance sheet liquidity, involving repayment of debt under its credit facility and redemption of its outstanding notes and other debt. It will also use the proceeds to make investments in high-quality, short-term debt instruments or a combination thereof, and to make long-term investments.
Incapital LLC is the purchasing agent for the offerings. Citigroup Global Markets Inc. and RBC Capital Markets LLC will serve as agents.