Seeking Alpha

Prospect Capital closes large lending deal

  • Prospect Capital (NASDAQ:PSEC) provides a $210M first lien senior secured credit facility to support the recapitalization of a leading food services company in the H.I.G. portfolio. The deal marks the ninth time in the last two years Prospect has invested over $100M in a single transaction.
  • Separately, Prospect announces the sale of AMU Holdings and Airmall resulting in a gross 16.7% IRR and 1.61x cash-on-cash return.
  • Source: Press Release
Comments (1)
  • critterlitter
    , contributor
    Comments (419) | Send Message
     
    All good news. At this very point in time, it appears that the market approves of it also. Some of these more sizeable deals may be a bit too much for other BDCs to enter into. This certainly can be considered an advantage to Prospect in that the larger pool of candidates for investing into, the better.
    18 Aug 2014, 11:10 AM Reply Like
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