Prospect Capital plans to price tap of 3.706% notes due 2026

By Devika Patel

Knoxville, Tenn., Feb. 12 – Prospect Capital Corp. intends to conduct an add-on offering to its 3.706% senior notes (Baa3/BBB-//Kroll: BBB-/Egan-Jones: BBB) due Jan. 22, 2026, according to a 424B2 filed with the Securities and Exchange Commission.

The company sold $325 million of the notes in a sale that priced on Jan. 14 and settled on Jan. 22. The notes were sold at 98.76 to yield 3.982%, or Treasuries plus 350 basis points.

The notes feature a make-whole call at the greater of par or Treasuries plus 50 bps until Dec. 22, 2025 and a par call after that date.

Goldman Sachs & Co. LLC is the bookrunner. Co-managers are Barclays and RBC Capital Markets LLC.

Proceeds will be used to repay debt, including debt accrued under the company’s revolver.

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

© 2015 Prospect News.
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