Daily News: July 30, 2012

Prospect Capital Increases Revolving Credit Facility Commitments


Prospect Capital Corporation announced that it has increased total commitments to the five-year $650 million revolving credit facility for Prospect Capital Funding by $15 million to $507.5 million in the aggregate.

The facility includes an accordion feature that allows Prospect to accept up to an aggregate of $650 million of revolving commitments, a target Prospect expects to reach with additional and existing lenders. The $15 million in new commitments has come from an existing lender. The facility has an investment grade Moody’s rating of Aa3.

“The facility upsizing demonstrates a broad interest in the Facility within the lender community,” said Brian Oswald, CFO of Prospect. “We continue to identify potential new participants for the facility and look forward to increasing the commitments to our $650 million target.”

Prospect Capital is a closed-end investment company that lends to and invests in private and microcap public businesses.