ProspectCapital Corp. is offering about $5.7 million of its 5.500% seniornotes due July 15, 2021.
The trade date for the notes is July 25, and the settlement dateis July 28. Interest on the notes will accrue starting July 28 and will be paidJuly 15 and Jan. 15 of each year, starting Jan. 15, 2017.
The company also filed a preliminary pricing supplement foran undisclosed amount of its 5.500% senior notes due Aug. 15, 2021. The tradedate for those notes is Aug. 1, and the settlement date is Aug. 4. Interestwill begin to accrue Aug. 4 and will be payable Feb. 15 and Aug. 15 of eachyear, starting Feb. 15, 2017.
The company expects to use the net proceeds initially tomaintain balance sheet liquidity, involving the repayment of debt under itscredit facility and redemption of outstanding notes and other debt; to investin high-quality, short-term debt instruments or a combination thereof; andthereafter to make long-term investments.
Incapital LLC, Bank of America Merrill Lynch, Citigroup andRBC Capital Markets are underwriters for both offerings.