Prospect Capital prices convertible offering

|About: Prospect Capital Corpora... (PSEC)|By:, SA News Editor

The $400M in 6-year notes come with a coupon of 4.75% and an initial conversion rate of 80.6647 shares of Prospect Capital (PSEC) for $1K principal amount of notes, equating to an initial conversion price of about $12.40 per share, or 15% conversion premium to the $10.78 close on Monday.

In other news, Prospect closes a $54M senior credit facility to support the recap of Ark-La-Tex Wireline Services.

Press release