By Andrea Heisinger
New York, March 8 - Prospect Capital Corp. was in the market on Friday with a $250 million sale of 5.875% 10-year senior notes (/BBB/) priced to yield 6%, according to a source close to the trade and a 497AD filing with the Securities and Exchange Commission.
The notes priced at 99.07.
Barclays was the bookrunner.
Proceeds are being initially used to maintain balance sheet liquidity, including investments in high-quality short-term debt, and then used to make long-term investments in accordance with its investment objective.
The financial services company is based in New York City.
| Issuer: | Prospect Capital Corp.
|
| Issue: | Senior notes
|
| Amount: | $250 million
|
| Maturity: | March 15, 2023
|
| Bookrunner: | Barclays
|
| Coupon: | 5.875%
|
| Price: | 99.07
|
| Yield: | 6%
|
| Call: | Non-callable
|
| Trade date: | March 8
|
| Settlement date: | March 15
|
| Ratings: | Standard & Poor's: BBB
|
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