Prospect Capital Corporation Announces Results of Cash Tender Offer for Any and All of its Outstanding 6.375% Notes Due 2024
October 18, 2021 at 07:00 am EDT
Share
Prospect Capital Corporation announced the results of its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding notes listed below. The Tender Offer was made pursuant to an Offer to Purchase dated October 8, 2021 (the “Offer to Purchase”), which set forth the terms and conditions of the Tender Offer. As of the previously announced expiration time of 5:00 p.m., New York City time, on October 15, 2021 (the “Expiration Time”), according to information provided by D.F. King & Co. Inc., the information and tender agent for the Tender Offer, a total of $149,000 aggregate principal amount of Notes (defined below) had been validly tendered and not validly withdrawn in the Tender Offer. This amount includes $0 tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase and notice of guaranteed delivery, dated October 8, 2021, which remains subject to the holders’ performance of the delivery requirements under such procedures. Withdrawal rights for the Notes expired at 5:00 p.m., New York City time, on October 15, 2021. The table below sets forth the aggregate principal amount and percentage of the Notes validly tendered and not validly withdrawn by the Expiration Time that will be accepted for purchase by the Company (the “Eligible Notes”). The consideration to be paid for the Eligible Notes is $1,077.50 for each $1,000 principal amount of Eligible Notes, plus accrued and unpaid interest on the Eligible Notes, if any, from the applicable last interest payment date up to, but not including, the settlement date, which date is expected to be October 20, 2021. The Company has retained D.F. King & Co. Inc. to serve as the Information and Tender Agent for the Notes in the Tender Offer.
Prospect Capital Corporation is a business development company that focuses on lending to and investing in private businesses. The Companyâs investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes. It invests primarily in first and second lien secured loans and unsecured debt, which in some cases includes an equity component. It invests in debt and equity positions of structured credit, which are a form of securitization in which the cash flows of a portfolio of loans are pooled and passed on to different classes of owners in various tranches. It may also acquire controlling interests in companies in conjunction with making secured debt investments in such companies. Its investment adviser is Prospect Capital Management L.P.