Prospect Capital increases revolver commitments to $877.5 million

By Toni Weeks

San Luis Obispo, Calif., July 24 – Prospect Capital Corp. announced that it has increased total commitments under its five-year revolving credit facility to $877.5 million from $867.5 million.

The facility has an accordion feature that allows Prospect Capital to accept up to an aggregate of $1 billion of revolving commitments.

The latest $10 million comes from one new lender, bringing the total number of lenders to 29, according to a news release.

The facility has an investment-grade rating of Aa3 from Moody's Investors Service.

Prospect Capital is a New York venture capital and private equity firm.

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