| Prospect Capital - PSEC Headlines |
 |
 |
 |
| Written by Administrator |
| Saturday, 28 August 2010 15:41 |
|
Prospect Capital - PSEC Headlines
Prospect Capital Makes $20 Million Secured Debt Investment in Hoffmaster8:00 am ET 06/03/2010 - Market Wire
NEW YORK, NY -- (MARKET WIRE) -- 06/03/10 --Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect") announced today that Prospect has made a secured debt investment of $20 million in Hoffmaster, Inc. ("Hoffmaster" or the "Company"), a leading manufacturer of specialty disposable tabletop products, including decorative and customized printed napkins, placemats, cutlery items, table covers, and accessory items. Founded in 1947 and headquartered in Oshkosh, Wisconsin, Hoffmaster primarily serves the foodservice and consumer market segments, which have a recurring need for the Company's tableware products. The Company's products are distributed to a variety of end-user customers, including restaurants, hotels, healthcare providers, airlines, and country clubs. The Company's leading brands include Hoffmaster®, Linen-Like®, American®, CaterWrap®, and EarthWise?. Hoffmaster is controlled by affiliates of Kohlberg & Company, L.L.C. ("Kohlberg"), a leading middle market private equity firm which has raised $3.7 billion and invested in approximately 100 transactions since 1987. Since 2007, Kohlberg has significantly improved Hoffmaster through the successful completion of several strategic initiatives, including the acquisition of the Company's largest competitor in the foodservice market. Prospect's secured second lien debt investment supports a transaction to refinance the Company's existing capital structure and provide the Company with operating flexibility to execute its business plan.
Prospect Capital Makes $20 mln Secured debt investment in Hoffmaster8:01 am ET 06/03/2010 - Briefing.com
Form SC 13G/A PROSPECT CAPITAL CORP Filed by: THORNBURG INVESTMENT MANAGEMENT INC6:16 am ET 06/04/2010 - 10K Wizard
Prospect Capital Announces Expanded Three-Year $300 Million Revolving Credit Facility9:00 am ET 06/14/2010 - Market Wire
NEW YORK, NY -- (MARKET WIRE) -- 06/14/10 --Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect") announced today that it has completed a first closing on an expanded three-year $300 million revolving credit facility (the "Facility"). The new Facility, for which lenders have closed on $210 million to date, includes an accordion feature at Prospect's discretion, which allows the Facility to accept up to an aggregate total of $300 million of commitments, a target Prospect expects to reach with additional lenders. The revolving period of the Facility extends through June 2012, with an additional one year amortization period (with distributions allowed) after the completion of the revolving period. Pricing for the Facility is one-month Libor plus 3.25%, subject to a minimum Libor floor of 1%, a 1.75% reduction in pricing from the previous pricing of Libor plus 4%, which was subject to a minimum Libor floor of 2%. The Facility has an investment grade Moody's rating of A2. Improvements in the Facility include an increase in advance rate as well as an expansion of allowed new collateral to include subordinated debt.
Prospect Capital completed a first closing on an expanded 3 year $300 million revolving credit facility9:03 am ET 06/14/2010 - Briefing.com
The new Facility, for which lenders have closed on $210 million to date, includes an accordion feature at Prospect's discretion, which allows the Facility to accept up to an aggregate total of $300 million of commitments, a target Prospect expects to reach with additional lenders.
Form 8-K PROSPECT CAPITAL CORP For: Jun 114:22 pm ET 06/15/2010 - 10K Wizard
On June 11, 2010, Prospect Capital Corporation (“Prospect”) completed a first closing on an expanded three-year $300 million revolving credit facility (the “Facility”). The new Facility, for which lenders have closed on $210 million to date, includes an accordion feature at Prospect’s discretion, which allows the Facility to accept up to an aggregate total of $300 million of commitments, a target Prospect expects to reach with additional lenders. The revolving period of the Facility extends through June 2012, with an additional one year amortization period (with distributions allowed) after the completion of the revolving period. Pricing for the Facility is one-month Libor plus 3.25%, subject to a minimum Libor floor of 1%, a 1.75% reduction in pricing from the previous pricing of Libor plus 4%, which was subject to a minimum Libor floor of 2%. The Facility has an investment grade Moody’s rating of A2. Improvements in the Facility include an increase in advance rate as well as an expansion of allowed new collateral to include subordinated debt.
Prospect Capital Closes Additional Senior Secured Debt Investment, Announces Change From Quarterly to Monthly Cash Distributions to Shareholders, and Declares the 23rd, 24th, and 25th Consecutive Distributions of the Company
NEW YORK, NY -- (MARKET WIRE) -- 06/18/10 --Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect" or "Company") announced today that Prospect has made a senior secured investment of $6 million in a leading private-equity-owned provider of services to the steel products industry. In addition, Prospect announced today a change from quarterly to monthly cash distributions to shareholders. The Company has declared monthly cash distributions in the following amounts and with the following dates: 10.000 cents per share for June 2010 (record date of June 30, 2010 and payment date of July 30, 2010); 10.025 cents per share for July 2010 (record date of July 30, 2010 and payment date of August 31, 2010); and 10.050 cents per share for August 2010 (record date of August 31, 2010 and payment date of September 30, 2010). These distributions mark the Company's 23rd, 24th, and 25th consecutive distributions. In addition, due to prior distributions and the accretion generated from the tax-free stock merger with Patriot Capital Funding, Inc. in December 2009, the Company currently expects more than 20% of distributions in calendar year 2010 to be characterized as distributions without income tax liability for shareholders.
Prospect Capital made senior secured investment of $6 mln in private-equity-owned provider of services to the steel products industry8:44 am ET 06/21/2010 - Briefing.com
In addition, Prospect announced today a change from quarterly to monthly cash distributions to shareholders. The Company has declared monthly cash distributions in the following amounts and with the following dates: 10.000 cents per share for June; 10.025 cents per share for July and 10.050 cents per share for August.
|