Prospect Capital Corporation (NASDAQ:PSEC) Files An 8-K Other Events

ME Staff 8-k
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Prospect Capital Corporation (NASDAQ:PSEC) Files An 8-K Other Events
Item 8.01. Other Events.

On May 26, 2021, Prospect Capital Corporation (“Prospect”) increased total commitments to its revolving credit facility (the “Facility”) for Prospect Capital Funding LLC, a GAAP consolidated subsidiary of Prospect, by $25 million to $1.1075 billion in the aggregate from an expanded group of 33 banks.
On April 28, 2021, Prospect completed an extension and upsizing of the Facility extending the term five years and the revolving period four years from such date and reducing the interest rate on drawn amounts to one-month LIBOR plus 2.05%. The Facility includes an accordion feature that allows the Facility, at Prospect’s discretion, to accept up to a total of $1.5 billion of commitments.
The Facility matures on April 27, 2026. It includes a revolving period that extends through April 27, 2025, followed by an additional one-year amortization period.
About Prospect Capital Corporation (NASDAQ:PSEC)

Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. The Company 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. The Company makes investments, including lending in private equity sponsored transactions, lending directly to companies not owned by private equity firms, control investments in corporate operating companies, control investments in financial companies, investments in structured credit, real estate investments, investments in syndicated debt, aircraft leasing and online lending. The Company is managed by its investment advisor, Prospect Capital Management L.P.