Prospect Capital Corp. priced an offering of $641,000 of 4.500% unsecured notes due March 15, 2023, and $290,000 of 5.000% unsecured notes due March 15, 2026.
The trade date is March 26, and the settle date is March 29. Interest will start accruing on the notes from March 29. The interest on the notes will be payable March 15 and Sept. 15 of each year, commencing Sept. 15.
The net proceeds from the sales of 4.500% notes and 5.000% notes were $632,987.50 and $284,490, respectively.
The company intends to use the net proceeds initially to maintain balance sheet liquidity, involving paying down debt under its credit facility and making investments in short-term debt instruments, or a combination thereof, and thereafter to make long-term investments.
Incapital LLC is the purchasing agent. Citigroup Global Markets Inc. and RBC Capital Markets LLC are the agents.