Daily News: April 18, 2012

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 $57.5 million to $482.5 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 $57.5 million in new commitments have come from three new lenders, bringing the total number of lenders to 14. The facility has an investment grade Moody’s rating of Aa3.

“The addition of three new lenders 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 Corporation is a closed-end investment company that lends to and invests in private and microcap public businesses.

Previously on abfjournal.com:

Prospect Capital Increases Revolving Credit Facility Commitments, Thursday, April 05, 2012