trending Market Intelligence /marketintelligence/en/news-insights/trending/YIvtZFXv0vdEJ1zDuaUGfQ2 content esgSubNav
In This List

Prospect Capital announces notes offering

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds

Blog

Investment Banking Essentials Newsletter April Edition - 2022

Blog

Banking Essentials Newsletter April Edition - 2022


Prospect Capital announces notes offering

Prospect Capital Corp. filed a preliminary pricing supplement for an undisclosed amount of its 5.000% unsecured notes due Feb. 15, 2022.

The trade date for the notes is Feb. 6, and the settlement date is Feb. 9. Interest will begin to accrue on the notes on Feb. 9 and will be paid Feb. 15 and Aug. 15 of each year, starting Aug. 15.

Prospect Capital also received net proceeds of about $3.1 million from a separate offering of about $3.2 million of its 5.000% unsecured notes due Feb. 15, 2022.

The trade date for the notes was Jan. 30, and the settlement date is Feb. 2. The notes will begin to accrue interest Feb. 2, and interest will be payable Feb. 15 and Aug. 15 of each year, starting Aug. 15.

The company plans to use the net proceeds from the offerings to preserve balance sheet liquidity, involving repaying debt under its credit facility and redeeming outstanding notes and other debt. The company may also invest in high-quality, short-term debt instruments or a combination thereof, and in long-term investments.

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