NEW YORK, NY--(Marketwired - Apr 23, 2013) - Prospect Capital Corporation (
Founded in 1992 and headquartered in Dallas, PFS is the world's largest processor of commissions paid by hotels to travel agencies. The Company's global payment network and technology solutions serve a large and diverse customer base of leading hotels and travel agencies. The Company provides a range of services to these customers, including commissions receipt and disbursement, foreign currency exchange, and reconciliation and tracking services.
"Prospect quarterbacked and structured a creative debt financing solution on an accelerated timeline, demonstrating again why we have worked with Prospect on multiple occasions," said William Nolan, a Managing Director of H.I.G.
"Prospect is excited to provide financing to support the carve-out of PFS, an innovative market leader with significant growth prospects and a compelling value-added service offering for its clients," said Jason Wilson, a Managing Director of Prospect Capital Management LLC.
Prospect closed nearly $3 billion of originations in the twelve months ended March 31, 2013. Prospect's advanced investment pipeline aggregates more than $750 million of potential opportunities.
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation (www.prospectstreet.com) is a closed-end investment company that lends to and invests in private and microcap public businesses. Our investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
We have elected to be treated as a business development company under the Investment Company Act of 1940 ("1940 Act"). We are required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. We have 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 us could have an adverse effect on us and our shareholders.
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 our control, and that we 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 we undertake no obligation to update any such statement now or in the future.