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Prospect Capital increases commitment to credit facility by $35M

Prospect Capital Corp. on Oct. 11 increased total commitments to its revolving credit facility for subsidiary Prospect Capital Funding LLC by $35 million to $830 million in the aggregate.

At Prospect's discretion, the facility may accept up to a total of $1.5 billion of commitments. The $35 million commitment comes from one new lender. The facility now has 21 lenders.

On Aug. 1, the facility was extended to March 27, 2024, and the interest rate on drawn amounts was reduced to one-month London Interbank Offered Rate plus 2.20%.