PSEC to list 5.5% 2030 notes on TASE, raises $167M for refinancing

Rhea-AI Filing Summary

Prospect Capital Corporation announced it priced an institutional offering of approximately $167 million in aggregate principal amount of 5.5% Series A Notes due 2030. The Notes pay interest quarterly on March 31, June 30, September 30 and December 31, commencing March 31, 2026, and mature on December 31, 2030. They are general senior unsecured obligations, ranking equally with existing and future senior unsecured debt, and are rated ilAA- by S&P Global Ratings Maalot Ltd.

The offering is expected to close on October 30, 2025, with the Notes and the Company’s common stock expected to list and commence trading on the Tel Aviv Stock Exchange on November 2, 2025. The Company may redeem the Notes, in whole or in part, at any time after 60 days from the TASE listing at the greater of par plus accrued interest, the 30-day average closing price prior to board approval, or the discounted value of remaining payments. Net proceeds are expected to be used primarily to refinance existing indebtedness, including borrowings under the revolving credit facility, with any remainder for liquidity and investments consistent with its objectives.

Insights

Fixed Income Analyst

$167M 5.5% senior notes due 2030, primarily for refinancing.

Prospect Capital priced approximately $167,000,000 of 5.5% Series A Notes maturing on December 31, 2030. Interest is payable quarterly starting March 31, 2026. The Notes are senior unsecured, ranking pari passu with current and future senior unsecured debt, and carry an ilAA- rating from S&P Global Ratings Maalot Ltd.

Redemption is permitted any time after 60 days from TASE listing at the greater of par plus accrued interest, the 30-day average closing price before the board resolution, or the discounted value of remaining payments. The filing lists an expected close on October 30, 2025 and TASE listing on November 2, 2025.

Proceeds are expected primarily to refinance existing indebtedness, including the revolving credit facility, with any remainder allocated to liquidity and investments aligned with the company’s objectives. The Notes were sold offshore to non-U.S. persons under Regulation S.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): October 28, 2025 (October 27, 2025)

Prospect Capital Corporation

(Exact name of registrant as specified in its charter)

Maryland

814-00659

43-2048643

(State or other jurisdiction

(Commission File Number)

(IRS Employer

of incorporation)

Identification No.)

10 East 40th Street, 42nd Floor, New York, New York 10016

(Address of principal executive offices, including zip code)

(212) 448-0702

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o						Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o						Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o						Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o						Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading symbol			Name of each exchange on which registered
Common Stock, $0.001 par value			PSEC			NASDAQ Global Select Market
5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock, par value $0.001			PSEC PRA			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 7.01. Regulation FD Disclosure.

On October 28, 2025, Prospect Capital Corporation (the “Company”) issued a press release to announce that it priced an institutional offering of approximately $167 million in aggregate principal amount of 5.5% Series A Notes due 2030 (the “Notes”) on October 27, 2025. A copy of the press release announcing the pricing of the Notes is furnished hereto as Exhibit 99.1.

The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 furnished hereto, is being furnished and shall not be deemed “filed” for any purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such Section. The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 furnished hereto, shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 8.01. Other Events.

On October 27, 2025, the Company priced an institutional offering of approximately $167 million in aggregate principal amount of Notes. The Notes will bear interest at a rate of 5.5% per annum payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year, commencing on March 31, 2026. The Notes will mature on December 31, 2030. The Company may redeem the Notes, at its option, in whole or in part, at any time after 60 days from the date on which the Notes are listed for trading on the Tel Aviv Stock Exchange Ltd. (the “TASE”) at a price equal to the greater of (i) par plus accrued and unpaid interest on the Notes, if any, to, but excluding, the date of redemption, (ii) the average closing price of the Notes over the 30 trading days preceding the Company’s board of directors’ resolution approving the redemption and (iii) the discounted value of the remaining payments under the Notes. The Notes will be general senior unsecured obligations of the Company, will rank equally in right of payment with the Company’s existing and future senior unsecured debt, and will rank senior in right of payment to any potential subordinated debt, should any be issued in the future. The Notes are rated ilAA- by S&P Global Ratings Maalot Ltd.

The offering is expected to close on October 30, 2025, subject to customary closing conditions, and the Notes and the Company’s shares of common stock are expected to list and commence trading on the TASE on November 2, 2025. The Company expects to use the net proceeds of the offering primarily for the refinancing of existing indebtedness, including, but not limited to, the repayment of borrowings under its revolving credit facility. The Company intends to use the remainder of the net proceeds from the offering, if any, to maintain balance sheet liquidity, including to make investments in high quality short-term debt instruments, and to make other long-term investments in accordance with its investment objective.

The Notes were sold in an offshore transaction to certain non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. This disclosure does not constitute an offer to sell or a solicitation of an offer to buy any of the Notes, nor shall there be any offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release, dated October 28, 2025.

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SIGNATURE

    Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

Prospect Capital Corporation

By:     /s/ M. Grier Eliasek

Name:    M. Grier Eliasek

Title:     Chief Operating Officer

Date: October 28, 2025

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Index to Exhibits

Exhibit Number			Description
99.1			Press Release, dated October 28, 2025.

5

FAQ

What did PSEC announce in this 8-K?

Prospect Capital priced an institutional offering of approximately $167 million in aggregate principal amount of 5.5% Series A Notes due 2030.

What are the key terms of PSEC’s new notes (PSEC)?

The Notes bear 5.5% interest, payable quarterly starting March 31, 2026, and mature on December 31, 2030. They are senior unsecured.

When will the offering close and when will the notes be listed?

Closing is expected on October 30, 2025, with listing and trading on the Tel Aviv Stock Exchange expected on November 2, 2025.

How will PSEC use the proceeds from the notes offering?

Primarily to refinance existing indebtedness, including the revolving credit facility; any remainder for liquidity and investments consistent with its objectives.

What is the credit rating of the new notes?

The Notes are rated ilAA- by S&P Global Ratings Maalot Ltd.

What are the redemption provisions for the notes?

PSEC may redeem, after 60 days from TASE listing, at the greater of par plus accrued interest, the 30-day average closing price before board approval, or the discounted value of remaining payments.

Under what securities law framework were the notes sold?

They were sold offshore to certain non-U.S. persons pursuant to Regulation S and are not registered under the Securities Act.