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Prospect Capital prices, announces senior notes offerings

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Prospect Capital prices, announces senior notes offerings

Prospect CapitalCorp. on April 11 filed a pricing supplement for an offering of about$1.0 million of its 5.500% senior notes due April 15, 2021.

The trade date for the offering is April 11, and the settlementdate is April 14. Interest on the notes will start to accrue April 14 and will bepaid April 15 and Oct. 15 each year, starting Oct. 15.

Prospect Capital also filed a preliminary pricing supplementfor an undetermined amount of 5.500% senior notes due April 15, 2021. The tradedate for the notes is April 18, and the settlement date is April 21. Interest onthe notes will begin to accrue April 21 and will be paid April 15 and Oct. 15 eachyear, beginning Oct. 15.

The company expects to use the net proceeds from the sale ofthe notes initially to maintain balance sheet liquidity, involving repayment ofdebt under its credit facility, if any, and redemption of outstanding notes andother debt; to invest in high-quality, short-term debt instruments or a combinationthereof; and thereafter to make long-term investments.

Incapital LLC, Bank of America Merrill Lynch, Citigroup and RBCCapital Markets are the underwriters for the offerings.