Prospect Capital tenders for $100 million 4.95% convertibles at par

By Wendy Van Sickle

Columbus, Ohio, July 23 – Prospect Capital Corp. began a tender offer to purchase for cash up to $100 million of its $258.24 million of outstanding 4.95% senior convertible notes due 2022 (Cusip: 7438TAR3), according to a press release.

The offers will expire at 11:59 p.m. ET on Aug. 19.

The consideration for each $1,000 principal amount of tendered 2022 notes will be $1,000, plus accrued interest, if any.

If the amount of convertibles tendered exceeds the cap for either series, the tendered convertibles will be accepted on a pro rata basis.

The settlement date is expected to occur within three business days following the expiration date.

D.F. King & Co., Inc. (212 269-5550 banks and brokers, 800-859-8509 toll free or via psec@dfking.com) is the information agent and tender agent.

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

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