Prospect Capital gets tenders for 49% of 5% notes due 2019 in offer

By Susanna Moon

Chicago, June 14 – Prospect Capital Corp. said investors had tendered $147,024,000, or 49%, of its $300 million of 5% senior notes due 2019 in the offer that ended at 5 p.m. ET on June 13.

The total amount includes $577,000 tendered under guaranteed delivery procedures, according to the company update on Thursday.

As announced June 7, the purchase price will be $1,020 for each $1,000 principal amount plus accrued interest up to but excluding the settlement date of June 20.

The tender contains a financing condition that requires the company to secure enough proceeds from one or more debt financings to fund the offer. The offer is not conditioned on any minimum amount of notes being tendered.

RBC Capital Markets, LLC (212 618-7843 or 877 381-2099) and Barclays (212 528-7581 or 800 438-3242) are the lead dealer managers. UBS Securities LLC is the co-dealer manager. D.F. King & Co., Inc. (212 269-5550, 800 549-6864, psec@dfking.com or dfking.com/psec) is the information agent and tender agent.

Prospect Capital is a New York-based asset management company.

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