Prospect Capital Corporation announced that it has increased total commitments to its five-year $650 million revolving credit facility by $35 million to $552.5 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 $35 million commitment comes from a new lender, bringing the total number of lenders to 17. The facility has an investment grade Moody’s rating of Aa3.
“The addition of the new lender demonstrates a continued broad interest in the Facility within the lender community,” said Brian Oswald, chief financial officer 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: