NEW YORK, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ:PSEC) ("Prospect") extended and increased total commitments for its revolving credit facility (the "Facility") for Prospect Capital Funding LLC, a GAAP consolidated subsidiary of Prospect, with the most recent upsize in the quarter ended September 30, 2024.
Facility commitments currently aggregate $2.1215 billion from a group of 48 banks (with a combined asset base of over $7.5 trillion), which Prospect considers the largest number of lenders to any business development company's credit facility. The Facility includes an accordion feature allowing aggregate commitments to be increased up to $2.25 billion.
The Facility term comprises five years from the initial closing, with a maturity of June 28, 2029. The Facility has a revolving period of four years from the initial closing, extending through June 28, 2028 and followed by ...
