Prospect Capital prices $300 million of 8.95% senior unsecured notes due 2031
Prospect Capital Corporation announced that it priced a $300 million institutional offering of senior unsecured notes that carry an 8.95% annual coupon and mature on October 31 2031. The notes will pay interest semi‑annually. The company said the proceeds will be used to refinance existing indebtedness and for general corporate purposes. The offering is slated to close on November 5 2026, subject to standard closing conditions.
Why it matters
The new debt will replace higher‑cost borrowings, potentially improving Prospect’s interest expense profile. Investors will see the company’s financing mix shift toward a longer‑dated, higher‑coupon instrument, which may affect yield‑to‑maturity calculations and credit metrics.
Key facts
- 1Prospect Capital priced a $300 million senior unsecured notes offering. tradingview.com
- 2The notes bear interest at 8.95% per year. tradingview.com
- 3Maturity date is October 31 2031. stocktitan.net
- 4Interest will be paid semi‑annually. seekingalpha.com
- 5Closing is expected on November 5 2026, subject to customary closing conditions. stocktitan.net
- 6Proceeds will be used to refinance existing debt and for general corporate purposes. tradingview.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.