Prospect Capital Corp. is offering to redeem up to $60.0 million of its 4.750% senior convertible notes due 2020.
The offer will expire at 12:00 a.m. ET on Sept. 10. The company will pay $1,007 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, which is expected to take place within three business days following the expiration date.
Prospect Capital said it is aiming to reduce the principal amount, which is set to mature April 15, 2020. The notes currently have an outstanding principal of $191.2 million.