Prospect Capital Corp. has priced an offering of about $1.0 million principal amount of 4.000% unsecured notes due Dec. 15, 2022, and $447,000 principal amount of 4.500% unsecured notes due Dec. 15, 2025.
The trade date was Dec. 26, and the settle date was Dec. 29. Interest on the notes will begin to accrue Dec. 29 and will be payable June 15 and Dec. 15 of each year, starting June 15, 2018. Net proceeds are about $1.0 million from the sale of the 4.000% notes and $438,507 from the sale of the 4.500% notes.
The company also filed for the sale of an undisclosed amount of 4.000% notes due Jan. 15, 2023, and 4.500% notes due Jan. 15, 2026.
The trade date is Jan. 2, 2018, and the settle date is Jan. 5, 2018. Interest on the notes will begin to accrue Jan. 5, 2018, and will be payable Jan. 15 and July 15 of each year, starting July 15, 2018.
Prospect Capital plans to use proceeds to maintain balance sheet liquidity, including repaying any debt under the company's credit facility and redeeming outstanding Prospect Capital InterNotes and other debts. The company also said it may use the proceeds for investments in high-quality, short-term debt instruments 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 for the offerings.