Prospect Capital Corp. commenced an underwritten public offering of senior unsecured convertible notes due July 15, 2022.
Interest will accrue from Jan. 15, 2018, and will be payable semiannually every Jan. 15 and July 15, commencing July 15.
The notes will be a further issuance of the 4.95% convertible notes due 2022 issued April 11, 2017. They will be treated as a single series with the existing notes, will have the same terms and will be fully fungible and rank equally in right of payment.
The company will use part of the net proceeds to repay debt under its credit facility. The remainder may be used to invest in high-quality short-term debt investments and/or make long-term investments.
Goldman Sachs & Co. LLC will be the sole underwriter for the offering.
