By Aleesia Forni
Virginia Beach, April 2 - Prospect Capital Corp. priced $300 million of 5% 5.25-year senior notes (/BBB/) with a spread of Treasuries plus 320.9 basis points, according to a market source and a 497AD filed with the Securities and Exchange Commission.
The notes priced at par to yield 5.002%.
Pricing was at the tight end of talk, which was set at 5% to 5.25%.
The active bookrunners were Barclays, Goldman Sachs & Co. RBC Capital Markets LLC and UBS Securities LLC.
BNP Paribas Securities Corp. was a passive bookrunner.
Proceeds will be used to repay debt under the company's credit facility.
The financial services company is based in New York City.
| Issuer: | Prospect Capital Corp.
|
| Amount: | $300 million
|
| Description: | Senior notes
|
| Maturity: | July 15, 2019
|
| Bookrunners: | Barclays, Goldman Sachs & Co. RBC Capital Markets LLC, UBS Securities LLC (active), BNP Paribas Securities Corp. (passive)
|
| Lead manager: | BMO Capital Markets
|
| Co-managers: | BB&T Capital Markets, Fifth Third Securities, Inc., KeyBanc Capital Markets Inc., Mitsubishi UFJ Securities (USA), Inc.
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5.002%
|
| Spread: | Treasuries plus 320.9 bps
|
| Price talk: | 5% to 5.25%
|
| Make-whole call: | Treasuries plus 50 bps
|
| Trade date: | April 2
|
| Settlement date: | April 7
|
| Rating: | Standard & Poor's: BBB
|
| Distribution: | SEC registered
|
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