Prospect Capital Corp. is offering about $1.5 million of 4.000% unsecured notes due Oct. 15, 2022, and about $756,000 of 4.500% unsecured notes due Oct. 15, 2025.
The trade date was Oct. 10, and the settle date is Oct. 13. Interest on the notes will begin to accrue Oct. 13 and will be payable April 15 and Oct. 15 of each year, beginning April 15, 2018.
The net proceeds were about $1.5 million from the sale of the 4.000% notes and about $741,636 from the sale of the 4.500% notes.
The company also filed for the sale of undisclosed amount of 4.000% notes due Oct. 15, 2022, and 4.500% notes due Oct. 15, 2025. The trade date is Oct. 16 and the settle date is Oct. 19. Interest on the notes will begin to accrue Oct. 19 and will be payable April 15 and Oct. 15 of each year, starting April 15, 2018.
Prospect Capital plans to use the proceeds to maintain balance sheet liquidity, including repaying any debt under the company's credit facility and redeeming outstanding Prospect Capital InterNotes and other debts. The company also said it may use the proceeds for investments in high-quality, short-term debt instruments and to make long-term investments.
Incapital LLC is the purchasing agent for the offerings. Citigroup Global Markets Inc. and RBC Capital Markets LLC are the offerings' agents.