Prospect Capital intends to sell $300 million seven-year notes; talk Treasuries plus 255 bps area

By Devika Patel and Cristal Cody

Knoxville, Tenn., Sept. 23 – Prospect Capital Corp. intends to offer notes due 2028, according to a 424B2 filed with the Securities and Exchange Commission.

The $300 million offering of seven-year notes is talked to yield in the Treasuries plus 255 basis points area, a market source told Prospect News.

The notes feature a make-whole call initially and then a par call.

RBC Capital Markets LLC, Goldman Sachs & Co. LLC and BNP Paribas Securities Corp. are the bookrunners.

The New York-based asset management company plans to use the proceeds to repay borrowings under its revolving credit facility and to refinance debt.

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