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 14, 2022 (October 13, 2022)
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 York10016
(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 8.01. Other Events.
On October 13, 2022, Prospect Capital Corporation (“Prospect”) increased total commitments to its revolving credit facility (the “Facility”) for Prospect Capital Funding LLC, a GAAP consolidated subsidiary of Prospect, to $1.662 billion in the aggregate. Aggregate commitments are from an expanded group of 47 banks.
On September 7, 2022, Prospect completed an extension and upsizing of the Facility, which was effective on September 15, 2022, and i) extended the term five years and the revolving period four years from such date, ii) changed the interest rate on drawn amounts from one-month LIBOR plus 2.05% to one-month Term SOFR plus 2.05%, and iii) increased the accordion feature, which allows the Facility, at Prospect's discretion, to accept additional commitments for up to a total of $2.000 billion of commitments.
The Facility matures on September 15, 2027. It includes a revolving period that extends through September 15, 2026, followed by an additional one-year amortization period.
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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.
