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Prospect Capital Corporation Announces Launch of Cash Tender Offer For Any and All of its Outstanding 3.706% Notes due 2026
Prospect Capital Corporation Announces Launch of Cash Tender Offer For Any and All of its Outstanding 3.706% Notes due 2026
About this update from Prospect Capital Corporation
[{"type":"text","content":"NEW YORK, April 09, 2025 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (the “Company”) today announced that it has commenced a cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding notes listed below. The Tender Offer will expire at 5:00 p.m., New York City time, on April 17, 2025, or any other date and time to which the Company extends the Tender Offer (such date and time, as it may or may not be extended, the “Expiration Time”). The Tender Offer is made pursuant to an Offer to Purchase dated today and related notice of guaranteed delivery, which set forth the terms and conditions of the Tender Offer. Title of SecurityCUSIP / ISIN Nos.Outstanding Principal AmountTender Offer Consideration(1) 3.706% Notes due 2026 (the “Notes”)74348TAU6 / US74348TAU60$342,947,000$990.00 (1) Per $1,000 principal amount of 2026 Notes validly tendered on or prior to the Expiration Time and accepted for purchase by the Company. The consideration to be paid for each $1,000 principal amount of Notes that are validly tendered and not validly withdrawn on or prior to the Expiration Time will be as set forth in the table above, plus accrued and unpaid interest on the Notes, if any, from the applicable last interest payment date up to, but not including, the Settlement Date (as defined herein). The Company will purchase any Notes that have been validly tendered at or prior to the Expiration Time and accepted for purchase, subject to all conditions to the Tender Offer having been either satisfied or waived by the Company, promptly following the Expiration Time. Assuming the Tender Offer is not extended, the Company expects that the Tender Offer will settle and payment will be made on April 22, 2025 (the “Settlement Date”). As described in the Offer to Purchase, tendered Notes may be validly withdrawn at any time prior to or at, but not after, the Expiration Time, unless the Company amends the Tender Offer, in which case the withdrawal rights may be extended as the Company determines, to the extent required by law. The Tender Offer is not conditioned on any minimum amount of Notes being tendered. If any Notes remain outstanding after the consummation of the Tender Offer, the Company may, to the extent permitted by applicable law or the relevant terms and conditions of the Notes, continue to acquire, from time to time, the Note...