By Wendy Van Sickle
Columbus, Ohio, Feb. 12 – Prospect Capital Corp. priced a $50 million add-on to its 3.706% senior notes due Jan. 22, 2026 (Baa3/BBB-//Kroll: BBB-/Egan-Jones: BBB) on Friday at 99.637 to yield 3.787%, or a spread of Treasuries plus 330 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes will be consolidated and form a single series with the $325 million of notes issued by the company an Jan. 22.
Goldman Sachs & Co. LLC was the bookrunner.
The New York-based asset management company plans to use the proceeds to repay borrowings under its revolving credit facility and to refinance debt.
| Issuer: | Prospect Capital Corp.
|
| Amount: | $50 million add-on
|
| Description: | Senior notes
|
| Maturity: | Jan. 22, 2026
|
| Bookrunner: | Goldman Sachs & Co. LLC
|
| Co-managers: | Barclays and RBC Capital Markets, LLC
|
| Coupon: | 3.706%
|
| Price: | 99.637
|
| Yield: | 3.787%
|
| Spread: | Treasuries plus 330 bps
|
| Call features: | Make-whole call before Dec. 22, 2025 at the greater of par or Treasuries plus 50 bps; thereafter at par
|
| Change-of-control put: | 100
|
| Trade date: | Feb. 12
|
| Settlement date: | Feb. 19
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Kroll: BBB-
|
| Egan-Jones: BBB
|
| Distribution: | SEC registered
|
| Total amount: | $375 million, including $325 million issued on Jan. 22
|
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