Prospect Capital Corp. filed a prospectus for the sale of up to $500 million of Prospect Capital InterNotes from time to time.
The notes will be Prospect's general, senior unsecured obligations and will rank equally in right of payment with all of its existing and future senior unsecured debt.
The trustee for the notes is U.S. Bank NA, and the notes will not be subject to any sinking fund.
The company plans to use the net proceeds from the sale of the notes initially to maintain balance sheet liquidity, involving repayment of debt under its credit facility and redemption of outstanding Prospect Capital InterNotes and other debt, investments in short-term debt instruments or a combination thereof, and thereafter to make long-term investments.
Incapital LLC is the purchasing agent in connection with the offering. Citigroup Global Markets Inc. and RBC Capital Markets LLC are acting as agents.