Prospect Capital launches tender offer for 4.95% convertibles

By Marisa Wong

Los Angeles, Aug. 26 – Prospect Capital Corp. has begun a cash tender offer to purchase up to $60 million of its $111,055,000 outstanding 4.95% senior convertible notes due 2022 (Cusip: 74348TAR3), according to a press release.

The company is offering a consideration of $1,025 per $1,000 principal amount, plus accrued interest to but excluding the settlement date.

If tenders exceed the offer cap, tendered notes will be subject to proration.

The offer will expire at midnight ET on Sept. 24.

The offer is not conditioned on any minimum amount being tendered.

D.F. King & Co., Inc. (212 269-5550 for banks and brokers or 866 388-7452; psec@dfking.com) is the information and tender agent.

The business development company is based in New York.

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