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Prospect Capital launches tender offer for senior convertible notes due 2020

Prospect Capital Corp. commenced a cash tender offer to purchase up to $40.0 million aggregate principal amount of its outstanding 4.75% senior convertible notes due 2020.

The tender offer will expire at midnight ET on Oct. 23. The company will pay $1,006.50 per $1,000 of the principal redeemed, plus accrued and unpaid interest from the applicable last interest payment date up to, but not including, the settlement date.

The purpose of the offer is to reduce the principal amount of outstanding notes, which mature April 15, 2020. The notes currently have an outstanding principal of approximately $177.6 million.

D.F. King & Co. Inc. will be the information agent and tender agent for the offer.