New Issue: Prospect Capital prices $100 million 6.375% notes due 2024 at 350 bps over Treasuries

By Cristal Cody

Tupelo, Miss., Sept. 27 – Prospect Capital Corp. priced $100 million of 6.375% notes due Jan. 15, 2024 (BBB-//Kroll: BBB/Egan-Jones: BBB) on Thursday at 99.685 to yield 6.449%, or a spread of Treasuries plus 350 basis points, according to a 497AD filing with the Securities and Exchange Commission.

RBC Capital Markets, LLC and Goldman Sachs & Co. LLC were the bookrunners.

The New York-based asset management company plans to use the proceeds to repay borrowings under its revolving credit facility, maintain balance sheet liquidity and make investments.

Issuer:	Prospect Capital Corp.
Amount:	$100 million
Description:	Notes
Maturity:	Jan. 15, 2024
Bookrunners:	RBC Capital Markets, LLC and Goldman Sachs & Co. LLC
Lead managers:	Barclays and BNP Paribas Securities Corp.
Co-manager:	BB&T Capital Markets, Comerica Securities Inc., KeyBanc Capital Markets Inc. and Mizuho Securities USA LLC
Coupon:	6.375%
Price:	99.685
Yield:	6.449%
Spread:	Treasuries plus 350 bps
Call features:	Make-whole call before Dec. 15, 2023 at Treasuries plus 50 bps; thereafter at par
Change-of-control put:	100%
Trade date:	Sept. 27
Settlement date:	Oct. 1
Ratings:	S&P: BBB-
	Kroll: BBB
	Egan-Jones: BBB
Distribution:	SEC registered

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