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Prospect Capital Corp., 6.25% Notes due 6/15/2028
Ticker Symbol: PBY* CUSIP: 74348T409 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/15/2021
Security has been Called for: Tuesday, June 15, 2021
May 14, 2021 -- Prospect Capital Corp notified U.S. Bank National Association, the trustee (the “Trustee”) for its 6.25% Notes due 2028 (the “2028 Notes”), of the election to redeem $70.8 million of the aggregate principal amount of the 2028 Notes outstanding and instructed the Trustee to provide notice of such redemption to the holders of the 2028 Notes in accordance with the terms of the indenture governing the 2028 Notes. We expect the redemption to be completed on or about June 15, 2021. Following the redemption, none of the 2028 Notes will remain outstanding.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Prospect Capital Corp., 6.25% Notes due 2028 issued in $25 denominations, redeemable at the issuer's option on or after 6/15/2021 at $25 per note plus accrued and unpaid interest, and maturing 6/15/2028. Interest distributions of 6.25% per annum ($1.5625 per annum or $0.390625 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date that will be 3/1, 6/1, 9/1 & 12/1 respectively (NOTE: the ex-dividend date is at least one business day prior to the record date). If a Fundamental Change occurs prior to maturity, the holder will have the right to require the issuer to repurchase for cash some or all of the Notes at a repurchase price equal to 100% of the principal amount of the Notes being repurchased, plus accrued and unpaid interest (see prospectus for further information). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. This security was not rated by Moody’s and rated BBB- by S&P at the date of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (PSEC)
IPO - 5/31/2018 - 2.00 Million Notes @ $25.00 /note.
Link to IPO Prospectus
Market Value $50.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 10 East 40th Street, 42nd Floor, New York, NY 10016 |
Main Phone Number |
212-448-0702 |
Fax Number |
212-448-9652 |
Investor Contact (COO)
Grier Eliasek
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212-448-0702
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Toll Free Phone Number |
Unknown |
CEO - John F. Berry III |
CFO - Kristin Lea Van Dask |
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