Seeking Alpha

Prospect boosts borrowing capacity; closes another deal

  • Prospect Capital (PSEC) closes a deal for $277.5M of first-lien floating-rate debt to support the refinancing of direct marketing solutions provider IWCO Direct. After closing about $2.7B in deals last year, Prospect has done over $738M in originations thus far this year.
  • In other news, the company boosts its firepower, increasing total commitments for its 5-year $1B credit line by $35M to $792.5M. One new lender was added, brining the total amount of those participating to 24.
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