Investment company Prospect Capital Corp. (PSEC) 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.
by RTT Staff Writer
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