Daily News: February 23, 2015

Prospect Provides Financing to Support Carlyle Buy

Prospect Capital announced Prospect provided a first lien senior secured floating rate loan facility to support the acquisition of PrimeSport Holdings.

“Carlyle selected Prospect, based on its ability to provide committed capital to finance our acquisition of PrimeSport on an accelerated basis due to Prospect’s thorough knowledge of PrimeSport and its industry,” said David Stonehill, a managing director of Carlyle.

“Prospect demonstrated creativity by parallel processing a dividend recapitalization, which closed in September 2014, with a possible change of control process, and we were pleased to strongly recommend Prospect as a leading provider of staple financing in this transaction,” said Behdad Eghbali, a founding partner of Clearlake.

“Prospect is pleased to complete this important transaction with Carlyle,” said Jason Wilson, a managing director of Prospect Capital Management. We look forward to continued strong performance at PrimeSport, a company with a compelling value proposition for professional and collegiate sports leagues, teams, and fans involved in many of the biggest sporting events in the world.

Prospect closed nearly $3.2 billion of new originations during calendar year 2014, with further origination activity expected in the current quarter.

PrimeSport is a global sports, travel and event management company that offers tickets, corporate and fan travel packages, and hospitality events
for corporations, professional sports teams and fans.