Prospect Capital Corporation Extends and Increases Revolving Credit Facility to Over $2.1 Billion of Aggregate Commitments

Core Viewpoint - Prospect Capital Corporation has successfully extended and increased its revolving credit facility commitments, reflecting strong support from a diverse group of banks, which positions the company favorably for future investments and financing needs [1][2][4]. Group 1: Credit Facility Details - The total commitments for the revolving credit facility now aggregate to $2.1215 billion, supported by 48 banks with a combined asset base exceeding $7.5 trillion, marking it as the largest number of lenders for any business development company's credit facility [2]. - The facility includes an accordion feature that allows for an increase in total commitments up to $2.25 billion [2]. - The term of the facility spans five years from the initial closing, maturing on June 28, 2029, with a revolving period lasting four years until June 28, 2028, followed by a one-year amortization period [3]. Group 2: Company Overview - Prospect Capital Corporation operates as a business development company, focusing on lending to and investing in private businesses, aiming to generate current income and long-term capital appreciation through both debt and equity investments [5]. - The company has elected to be treated as a business development company under the Investment Company Act of 1940, complying with various regulatory requirements [6].