Prospect Capital Increases Revolving Credit Facility Commitments
Prospect Capital Corporation announced that it has increased total commitments to its five-year $650 million revolving credit facility by $15 million to $425 million in the aggregate.
The facility includes an accordion feature, which 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. This additional commitment from a new lender brings the total number of lenders to eleven. The facility has an investment grade Moody’s rating of Aa3.
“We are delighted to have an additional lender join our growing list of lender relationships,” 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.
Previously on abfjournal.com: