Welcome to our dedicated page for Prospect Capital news (Ticker: PSEC), a resource for investors and traders seeking the latest updates and insights on Prospect Capital stock.
Prospect Capital Corporation (PSEC) provides investors and financial professionals with a centralized source for verified news and regulatory disclosures. This page aggregates all official announcements, including earnings reports, strategic partnerships, and portfolio updates from the leading business development company.
Access real-time insights into PSEC's middle market lending activities, including first lien senior secured loans and mezzanine debt transactions. Track the company's investments across multiple industries through press releases detailing acquisitions, recapitalizations, and management changes.
Key updates include quarterly financial results, dividend declarations, SEC filings, and operational milestones. All content is curated to meet investor needs for timely, accurate information about PSEC's yield-oriented strategies and portfolio performance.
Bookmark this page for streamlined access to Prospect Capital's evolving financial narrative. Combine our news archive with independent analysis to inform your investment research process.
Prospect Capital (PSEC) has launched a cash tender offer to purchase any and all of its outstanding 3.706% Notes due 2026. The tender offer will expire on April 17, 2025 at 5:00 p.m., New York City time.
The company is offering to pay $990.00 per $1,000 principal amount of Notes, plus accrued and unpaid interest. The total outstanding principal amount of the Notes is $342,947,000. The expected settlement date is April 22, 2025.
PSEC plans to fund the purchase using cash on hand and borrowings under its revolving credit facility. The company has retained RBC Capital Markets as Dealer Manager and D.F. King & Co. as Information and Tender Agent for the offer. A retail processing fee of $1.00 per $1,000 principal amount will be paid for qualifying retail broker tenders of $100,000 or less.
Prospect Capital (NASDAQ: PSEC) has announced an upcoming webinar titled 'Medium Term Notes – Senior Position and Attractive Income' scheduled for April 14, 2025, at 1:00pm ET. The educational session, which is the third in their investor education series, will focus on senior unsecured bonds and medium term notes.
The webinar will cover how portfolios can benefit from programmatic bonds through:
- Attractive contractual cash income streams
- Optionality across sizes and maturities
- Laddered approach to building a bond portfolio
The event, hosted in collaboration with RIA Channel, offers 1 CFP®/IWI/CFA CE Credit for financial professionals.
Prospect Capital (NASDAQ: PSEC) has received a reaffirmation of its investment grade credit ratings from Egan-Jones Ratings Company. The company maintained its BBB rating for issuer and institutional notes, while its preferred stock retained a BBB- rating.
The ratings reflect Prospect's strong franchise, consistent long-term performance, and conservative leverage strategy. The company's President and COO, Grier Eliasek, highlighted their ongoing portfolio rotation strategy, noting that over 95% of originations in the first two quarters of fiscal 2025 were focused on first lien senior secured loans.
Prospect Capital (NASDAQ: PSEC) has received a reaffirmation of its investment grade issuer and long-term senior debt credit ratings at BBB(low) from Morningstar DBRS, with a revised trend of Stable.
The company highlights its strong business profile, including:
- Over $21 billion invested across 400+ investments
- $4.7 billion in cumulative principal bond repayments
- $2.1 billion credit facility with 48 institutional banks
- 0.40x debt to equity leverage
- 0.4% nonaccruals
- 13% unlevered investment level gross cash internal rate of return for exited investments
- Less than 1% book to look ratio from over 3,000 annual origination opportunities
The company maintains a majority senior secured loan book and reports strong counterparty relationships and high employee ownership.
Prospect Capital (NASDAQ: PSEC) has announced the complete and timely repayment of its convertible bond due March 2025. This milestone adds to the company's track record of responsible debt management, having repaid approximately $4.7 billion in principal bond obligations across 874 debt tranches throughout its 20-year history.
The repayments span diverse funding sources, including:
- Institutional non-convertible bonds
- Institutional convertible bonds
- Baby bonds
- Programmatic medium-term notes
According to President and COO Grier Eliasek, this achievement demonstrates the strength of their diversified and low leverage capital strategy, while maintaining strong relationships with credit providers and ensuring access to flexible, cost-effective funding sources.
Prospect Capital (NASDAQ: PSEC) has announced the release of an updated 'Prospect Highlights' document on their website as of March 10, 2025. The company has made the updated information available through their investor relations section, which also includes their Corporate Presentation and Press Releases. The company emphasizes their multi-decade operational history, track record, and market-leading best practices.
Prospect Capital (NASDAQ: PSEC) and its portfolio company Refuel Agency have announced a philanthropic partnership focused on supporting military veterans. Through the John and Daria Barry Foundation's connection with Refuel, support has been provided to two veteran-focused organizations: Team Red, White & Blue (Team RWB) and Avalon Action Alliance.
The support for Team RWB will help expand their Eagle Alliance Program, which provides corporate Veteran Employee Resource Group support, enhances digital infrastructure for veteran referrals, and strengthens health and wellness partnerships. For Avalon Action Alliance, the foundation's support will enhance their integrative trauma care model, focusing on Traumatic Brain Injury Treatment, Post-Traumatic Stress Recovery, and Substance Abuse Treatment.
Prospect Capital (PSEC) has reported its financial results for the fiscal quarter ended December 31, 2024. Key highlights include:
- Net Investment Income (NII) of $86.4 million ($0.20 per share), down from $96.9 million ($0.24 per share) year-over-year
- Net loss of $31 million (-$0.07 per share), compared to a loss of $51.4 million (-$0.13 per share) in the same quarter last year
- Monthly cash distributions declared at $0.0450 per share for February, March, and April 2025
- Net Asset Value (NAV) per share decreased to $7.84 from $8.92 year-over-year
The company's portfolio consisted of 114 companies across 33 industries, with 64.9% in first lien debt. The company maintains strong liquidity with $1.88 billion in cash and undrawn revolving credit facility commitments.
Prospect Capital (NASDAQ: PSEC) has announced key dates for its second fiscal quarter financial reporting. The company plans to file its Form 10-Q report with the SEC on February 10, 2025, containing results for the quarter ended December 31, 2024. The earnings press release will be issued after market close on the same day.
A conference call is scheduled for February 11, 2025, at 9:00 a.m. Eastern Time, accessible via dial-in number 888-338-7333. A replay will be available for approximately 30 days at 877-344-7529 using passcode 2146236. Additionally, investors can access a live listen-only webcast through the company's website at www.prospectstreet.com.
Prospect Capital (NASDAQ: PSEC) has made a $65 million investment in Taos Footwear Holdings, a leading footwear brand known for its supportive footbed technology. The investment package includes a first lien senior secured term loan, a first lien senior secured convertible term loan, and a preferred equity investment.
Taos Footwear, established 20 years ago, has built its reputation on providing stylish and supportive footwear products. The company's founder and CEO, Glen Barad, indicated that the partnership with Prospect aims to provide both capital and strategic expertise to elevate the brand and drive continued growth.
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