By Wendy Van Sickle
Columbus, Ohio, Feb. 17 – Prospect Capital Corp. priced a $25 million add-on to its 3.706% senior notes due Jan. 22, 2026 (Baa3/BBB-//Kroll: BBB-/Egan-Jones: BBB) on Wednesday at 99.971 to yield 3.712%, or a spread of Treasuries plus 315 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 on Jan. 22 and the $50 million of notes to be issued on Feb. 19.
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: | $25 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: | 99.971
|
| Yield: | 3.712%
|
| Spread: | Treasuries plus 315 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. 17
|
| Settlement date: | Feb. 19
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Kroll: BBB-
|
| Egan-Jones: BBB
|
| Distribution: | SEC registered
|
| Total amount: | $400 million, including $325 million issued on Jan. 22 and $50 million to be issued on Feb. 19
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
