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Prospect Capital starts tender offer for senior notes

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Prospect Capital starts tender offer for senior notes

Prospect Capital Corp. has started a cash tender offer to purchase any and all of its outstanding 5.000% senior notes due 2019 for an aggregate principal amount of $300 million.

The offer will expire at 5 p.m. ET on June 13, unless extended or terminated earlier.

The consideration to be paid for each $1,000 principal amount of notes that are validly tendered and not validly withdrawn on or prior to the expiration time is $1,020, plus accrued and unpaid interest on the notes from the applicable last interest payment date up to, but not including, the settlement date. Assuming the tender offer is not extended, the company expects that the offering will settle and payment will be made on June 20.

Prospect Capital has retained RBC Capital Markets LLC and Barclays Capital Inc. to serve as lead dealer managers and UBS Securities LLC to serve as co-dealer manager for the offering. The company has also retained D.F. King & Co. Inc. to serve as information agent and tender agent.