10.50% Yielding Prospect Capital Offers Growth Too [View article]
Hi kingdad, thank you for the feedback. I appreciate it.
My concern is PSEC management is aligned with shareholders. I don't want to see any conflicts of interest where PSEC management are benefiting - personally - with in-house deals using shareholder funds. Such an issue can be argued on a couple of holdings, but that's a matter that can be sorted out later.
10.50% Yielding Prospect Capital Offers Growth Too [View article]
Hi ezhino, here is the SEC Filing info:
http://1.usa.gov/Q2sYbA PROSPECTUS SUPPLEMENT (To Prospectus dated October 21, 2011) Up to 9,750,000 Shares We have entered into an equity distribution agreement, dated September 10, 2012, with KeyBanc Capital Markets Inc., or "Key," relating to shares of common stock offered by this prospectus supplement and the accompanying prospectus. We sometimes refer to Key as the "Sales Manager."
10.50% Yielding Prospect Capital Offers Growth Too [View article]
10.50% Yielding Prospect Capital Offers Growth Too [View article]
Sounds like you have done terrific. TCAP has had a great run also. Congratulations. TJ
10.50% Yielding Prospect Capital Offers Growth Too [View article]
Todd
10.50% Yielding Prospect Capital Offers Growth Too [View article]
My concern is PSEC management is aligned with shareholders. I don't want to see any conflicts of interest where PSEC management are benefiting - personally - with in-house deals using shareholder funds. Such an issue can be argued on a couple of holdings, but that's a matter that can be sorted out later.
Todd
10.50% Yielding Prospect Capital Offers Growth Too [View article]
http://1.usa.gov/Q2sYbA
PROSPECTUS SUPPLEMENT
(To Prospectus dated October 21, 2011)
Up to 9,750,000 Shares
We have entered into an equity distribution agreement, dated September 10, 2012, with KeyBanc Capital Markets Inc., or "Key," relating to shares of common stock offered by this prospectus supplement and the accompanying prospectus. We sometimes refer to Key as the "Sales Manager."
10.50% Yielding Prospect Capital Offers Growth Too [View article]
Awesome info. Thank you.
Todd
10.50% Yielding Prospect Capital Offers Growth Too [View article]
10.50% Yielding Prospect Capital Offers Growth Too [View article]
Yes, very closely. What is your take on it, if you don't mind sharing.
Todd
10.50% Yielding Prospect Capital Offers Growth Too [View article]
I agree with your view. BDC's have inherent risks. Their balance sheets include secured loans, unsecured loans, and Tier 2 balance sheet assets. TJ
10.50% Yielding Prospect Capital Offers Growth Too [View article]
Thank you and always great to hear your views. I agree on position size. That can make or break a portfolio.
Todd
10.50% Yielding Prospect Capital Offers Growth Too [View article]
You will like what you find. TJ
10.50% Yielding Prospect Capital Offers Growth Too [View article]
10.50% Yielding Prospect Capital Offers Growth Too [View article]
My thought process - pertaining to a special dividend can be separated into 2 pieces:
1) It is cheaper for PSEC to keep the $100 million plus - compared to issuing PSEC shares. BDC's always need secondaries. They always need new monies.
2). The way Energy Solution gains were structured within PSEC, to benefit PSEC insiders, leaves one saying "does this make sense?".
TJ