Prospect CapitalCorp. is offering about $1.4 million of its 5.500% senior notes dueJuly 15, 2021.
The trade date for the notes is July 11, and the settlement dateis July 14. Interest on the notes will accrue beginning July 14 and will be paidJuly 15 and Jan. 15 of each year, starting Jan. 15, 2017.
Prospect Capital also filed a preliminary pricing supplementfor an undisclosed amount of its 5.500% senior notes due July 15, 2021. The tradedate for the notes is July 18, and the settlement date is July 21. Interest on thenotes will accrue beginning July 21 and will be paid July 15 and Jan. 15 of eachyear, starting Jan. 15, 2017.
The company plans to use the net proceeds to maintain balancesheet liquidity, involving repayment of debt under its credit facility and redemptionof outstanding notes and other debt; to invest in high-quality, short-term debtinstruments or a combination thereof; and thereafter to make long-term investments.
Incapital LLC, Bank of America Merrill Lynch, Citigroup and RBCCapital Markets are the underwriters for the offerings.