trending Market Intelligence /marketintelligence/en/news-insights/trending/S7kgvQRgy2N36FsE5Yx2Uw2 content esgSubNav
In This List

Prospect Capital prices, announces notes offering

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks


Prospect Capital prices, announces notes offering

Prospect Capital Corp. is offering about $2.3 million of 4.750% unsecured notes due June 15, 2022.

The trade date is May 30, and the settle date is June 2. Interest on the notes will begin to accrue June 2 and will be payable June 15 and Dec. 15 of each year, starting Dec. 15. The company expects about $2.3 million in net proceeds from the offering.

The company also filed a preliminary pricing supplement for the sale of an undisclosed amount of 4.750% unsecured notes due June 15, 2022. The trade date is June 5, and the settle date is June 8. Interest on the notes will begin to accrue June 8 and will be payable June 15 and Dec. 15 of each year, starting Dec. 15.

Prospect Capital plans to use the proceeds to maintain balance sheet liquidity involving repayment of debt under its credit facility and redemption of outstanding Prospect Capital InterNotes and other debt. The company will also use the proceeds to make investments in high-quality, short-term debt instruments and to make long-term investments.

Incapital LLC serves as purchasing agent, and Citigroup Global Markets Inc. and RBC Capital Markets LLC act as agents for the offerings.