NEW YORK, NY--(Marketwire - March 21, 2011) - Prospect Capital Corporation (
Headquartered in Atlanta, Safe-Guard's F&I products include Guaranteed Asset Protection ("GAP") Insurance, Tire & Wheel Protection, and Excess Lease Wear & Tear. Safe-Guard provides a turnkey and fully-outsourced solution to blue-chip clients that wish to offer valuable ancillary F&I products to vehicle buyers. Safe-Guard's products and services protect consumers by providing coverage on their investments and improving the product ownership experience.
"We are delighted to be making our third investment in less than a year supporting H.I.G.," said Jason Wilson, a Principal with Prospect Capital Management. "We pride ourselves on our deep relationships and repeat business with private equity sponsors who appreciate the creative solutions and unique product offerings we bring to every deal."
Separately, Prospect recently provided $12.5 million in first-lien senior secured financing to support the acquisition by an independent sponsor of a market leader in the bowhunting equipment industry.
Prospect also recently provided a net $20 million in second-lien secured financing for the recapitalization of an existing Prospect portfolio company in the specialty insurance agency, processing, and administration business.
Prospect has closed more than $215 million of new originations since December 31, 2010.
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 these estimates and projections of the future. 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.