Prospect Capital Corporation Announces Redemption of its 3.706% Notes due 2026

Rhea-AI Summary

Prospect Capital Corporation (NASDAQ: PSEC) has announced the redemption of all outstanding 3.706% Notes due 2026. The redemption will take place on June 18, 2025, with noteholders receiving 100% of the principal amount plus any accrued but unpaid interest up to the redemption date. The Notes are currently held through The Depository Trust Company and will be redeemed following applicable procedures.

Positive

• Early redemption of notes indicates strong cash position and financial flexibility
• Potential reduction in interest expense by retiring the 3.706% notes

Negative

• None.

NEW YORK, May 19, 2025 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect,” “our” or “we”) announced today that it will redeem all outstanding 3.706% Notes due 2026 (the “Notes”) at a price of 100% of the principal amount of the Notes to be redeemed, plus accrued but unpaid interest, to but excluding the Redemption Date (the “Redemption Price”). The redemption date will be June 18, 2025 (the “Redemption Date”).

The Notes are held through The Depository Trust Company and will be redeemed in accordance with the applicable procedures.

This press release does not constitute a notice of redemption under the indenture governing the Notes.

About Prospect Capital Corporation
Prospect is a business development company lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

Prospect has elected to be treated as a business development company under the Investment Company Act of 1940. Prospect elected to be treated as a regulated investment company under the Internal Revenue Code of 1986.

Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future.

For additional information, contact:

Grier Eliasek, President and Chief Operating Officer
grier@prospectcap.com
Telephone (212) 448-0702

FAQ

When will PSEC redeem its 3.706% Notes due 2026?

Prospect Capital Corporation will redeem the notes on June 18, 2025.

What is the redemption price for PSEC's 3.706% Notes due 2026?

The notes will be redeemed at 100% of the principal amount plus accrued but unpaid interest up to the redemption date.

How are PSEC's 3.706% Notes currently held?

The Notes are held through The Depository Trust Company and will be redeemed according to applicable procedures.

What does the early redemption of PSEC's notes indicate about the company?

The early redemption suggests strong financial flexibility and cash position, potentially allowing the company to reduce its interest expenses.