Prospect Capital to sell $400M in convertible notes in private offering


The notes are set to mature in 2020 unless previously converted.

PSEC -1.9% AH

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Comments (2)
  • AZKID44
    , contributor
    Comments (85) | Send Message
     
    To all the PSEC veterans >> is this a positive or negative development?
    7 Apr 2014, 08:19 PM Reply Like
  • shillingfarmer
    , contributor
    Comments (8) | Send Message
     
    Depends upon on how they employ the cash. I prefer this kind of debt to a share sale at this time. 37 million new shares would have set share prices adrift during a time that breadth of BDC ownership is contracting- due to the removal of BDCs from Russell Indexes. In this regard I believe management made a wise call.
    7 Apr 2014, 10:57 PM Reply Like
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