Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Prospect Capital Announces $130 Mln Senior Notes Offering

RELATED NEWS
Trade PSEC now with 

Investment company Prospect Capital Corp. (PSEC: Quote) said Tuesday that it plans to privately offer $130 million in aggregate principal amount of senior unsecured convertible notes due 2017.

In addition, the company expects to grant an overallotment option to the initial purchasers of the notes to buy up to an additional $20 million in aggregate principal amount of notes .

The company said it expects to use the net proceeds of the sale to maintain balance sheet liquidity, including repayment of debt under its credit facility, investments in high quality short-term debt instruments or a combination thereof and thereafter to make long-term investments as per the company's investment objectives.

Click here to receive FREE breaking news email alerts for Prospect Capital Corporation and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After ending the previous session nearly flat, stocks moved mostly lower over the course of the trading day on Friday. Uncertainty about the outlook for monetary policy weighed on the markets ahead of next week's Federal Reserve meeting. Despite the ceasefire in eastern Ukraine, the U.S. Treasury Department on Friday announced a new round of sanctions against Russia for its role in the conflict. Treasury Secretary Jacob Lew determined that persons operating within Russia's defense and related materiel sector may now be subject to targeted sanctions. Business inventories in the U.S increased in line with economist estimates in the month of July, according to a report released by the Commerce Department on Friday. The Commerce Department said business inventories rose by 0.4 percent in July, matching the increase reported for June as well as the consensus estimate.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.