logo
Share SHARE
FONT-SIZE Plus   Neg

Prospect Capital Announces $130 Mln Senior Notes Offering

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Warren Buffett's Berkshire Hathaway is reportedly planning its first ever European bond sale of 3 billion euros to take advantage of low interest rates in the region, traversing a path taken by a range of home companies in search of cheap funding options. The move comes as the European Central Bank's bond-buying stimulus program of 60 billion euros a month is imminent. Diary products company Prairie Farms is teaming up with Just Born, the maker of marshmallow candies PEEPS, to launch PEEPS flavored milk just in time for Easter. HKBN Ltd. has reportedly raised about $750 million after the broadband service provider priced its initial public offering at the top end of the price range. Private-equity group CVC Capital Partners, an unit of Carlyle Group L.P. (CG), Singapore's sovereign-wealth fund GIC Ltd., and other shareholders...
comments powered by Disqus
RELATED NEWS
Trade PSEC now with 
Follow RTT