Prospect Capital plans offering of $25-par notes due 2029

By James McCandless

San Antonio, Nov. 28 – Prospect Capital Corp. plans to price an offering of $25-par notes due June 15, 2029, according to a 497 filing with the Securities and Exchange Commission.

RBC Capital Markets, LLC and UBS Securities LLC are the joint bookrunners.

Ladenburg Thalmann & Co. Inc., Oppenheimer & Co. Inc., BB&T Capital Markets, Citigroup Global Markets Inc. and William Blair & Co., LLC are the lead managers.

Co-managers are B. Riley FBR, Inc. and Incapital LLC.

The notes are callable on or after Dec. 15, 2021 at par plus accrued interest.

Prospect Capital plans to use a portion the proceeds to repay debt under its credit facility. The remainder of the proceeds will be used to invest in high quality short-term debt investments, and/or to make long-term investments in accordance with its investment objective.

The company intends to list the notes on the New York Stock Exchange.

Prospect Capital is a New York City-based asset management company.

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