Prospect Capital presents portfolio update showing first-lien share rises to 71.5%

By Public Technologies
  • Prospect Capital outlined a portfolio shift toward first-lien lending in an investor presentation, with exposure reaching 71.5% from 64.1% since June 2024.
  • Non-accrual loans stood at 0.2% of total assets; payment-in-kind interest income fell 53% for LTM September 2026 versus LTM September 2024.
  • Debt represented 26% of total capital, with $1.9 billion in undrawn revolver commitments and cash.
  • A $300 million, 8.95% five-year unsecured institutional bond offering in October 2026 supported funding.
  • The July 2026 Valley Electric exit generated $281 million in net proceeds, delivering a 20.5% realized gross IRR.


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