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Prospect Capital announces, prices senior notes offerings

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Prospect Capital announces, prices senior notes offerings

Prospect CapitalCorp. is offering about $3.6 million of its 5.500% senior notes dueJuly 15, 2021.

The trade date for the notes is July 18, and the settlement dateis July 21. Interest will accrue beginning July 21 and will be paid July 15 andJan. 15 each year beginning Jan. 15, 2017.

The company also filed a preliminary pricing supplement for anundisclosed amount of its 5.500% notes due July 15, 2021. The trade date for thosenotes is July 25, and the settlement date is July 28. Interest will begin to accrueJuly 28 and will be payable July 15 and Jan. 15 of each year starting Jan. 15, 2017.

The company expects to use the net proceeds initially to maintainbalance sheet liquidity, involving the repayment of debt under its credit facilityand redemption of outstanding notes and other debt; to invest in high-quality, short-termdebt instruments or a combination thereof; and thereafter to make long-term investments.

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