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Prospect Capital prices, announces notes offering

Prospect Capital Corp. is offering about $1.2 million of 4.500% unsecured notes due Aug. 15, 2022, and $615,000 of 5.000% unsecured notes due Aug. 15, 2025.

The trade date is Aug. 14, and the settle date is Aug. 17. Interest on the notes will begin accruing Aug. 17 and will be payable Feb. 15 and Aug. 15 of each year, beginning Feb. 15, 2018.

The company expects net proceeds of about $1.2 million from the sale of the 4.500% unsecured notes and $603,315 from the sale of the 5.000% unsecured notes.

Prospect Capital also filed a preliminary pricing supplement for the sale of an undisclosed amount of 4.500% unsecured notes due Aug. 15, 2022, and 5.000% unsecured notes due Aug. 15, 2025.

The trade date is Aug. 21, and the settle date is Aug. 24. Interest on the notes will begin to accrue Aug. 24 and will be payable Feb. 15 and Aug. 15 of each year, beginning Feb. 15, 2018.

The company plans to use both offerings' proceeds to maintain balance sheet liquidity, including through repaying any debt under its credit facility and redeeming any outstanding Prospect Capital InterNotes and other debt. The company also may use the proceeds to make investments in high-quality, short-term debt instruments.

Incapital LLC is the purchasing agent for the offerings. Citigroup Global Markets Inc. and RBC Capital Markets LLC are the agents.