SOURCE: Prospect Capital Corporation

Prospect Capital Corporation

December 23, 2014 07:00 ET

Prospect Capital Makes $25 Million Loan to SAFE Security

NEW YORK, NY--(Marketwired - Dec 23, 2014) - Prospect Capital Corporation (NASDAQ: PSEC) ("Prospect") announced today that Prospect recently provided a $25 million loan to Security Alarm Financing Enterprises, L.P. ("SAFE"), a portfolio company of ICV Partners ("ICV"), to support continued organic and acquisition-driven growth.

Based in San Ramon, California, SAFE ranks among the top 25 largest security alarm companies in the United States and stands as one of the few truly national alarm companies with operations in all 50 states, Puerto Rico, and Canada. SAFE focuses on excellence in customer service and provides a full range of monitoring, billing, collection, and marketing services for dealers in its SAFE dealer network.

"Prospect is a responsive lender that helped to structure a transaction supporting SAFE's operating objectives, and we are pleased to have Prospect lead another financing for ICV," said Cory Mims, a Managing Director of ICV Partners.

"We appreciate the opportunity to work with ICV to provide financing to support the growth of SAFE, a leading, national alarm monitoring company with a powerful base of long standing customer relationships," said David Moszer, a Managing Director of Prospect Capital Management.

Currently with over $7 billion of capital under management, Prospect has closed over $3.1 billion of new originations so far in calendar year 2014.

ABOUT PROSPECT CAPITAL CORPORATION

Prospect Capital Corporation (www.prospectstreet.com) is a business development company that focuses on lending to and investing in private businesses. Prospect's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

Prospect has elected to be treated as a business development company under the Investment Company Act of 1940 ("1940 Act"). Prospect is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to Prospect could have an adverse effect on Prospect and its shareholders.

ABOUT ICV PARTNERS

Founded in 1998, ICV Partners is a leading private investment firm that supports management leaders of strong companies at the lower end of the middle market. The principals of ICV have crafted a strong track record of helping companies improve performance over the long term and across a variety of industries. ICV seeks to make control investments in market leading businesses with $25 million to $250 million in revenue.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under Prospect's control, and that Prospect may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and Prospect undertakes no obligation to update any such statement now or in the future.