Prospect Capital Corp. has priced an offering of $1.1 million principal amount of 4.000% unsecured notes due Feb. 15, 2023, and $300,000 principal amount of 4.500% unsecured notes due Feb. 15, 2026.
The trade date is Feb. 5, and the settle date is Feb. 8. Interest on the notes will begin to accrue Feb. 8 and will be payable Feb. 15 and Aug. 15 of each year, starting Aug. 15. The net proceeds were about $1.1 million from the sale of the 4.000% notes and $294,300 from the sale of the 4.500% notes.
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.
