Giant business dvelopment company (BDC) Prospect Capital (NYSE:PSEC) is going to be selling some baby bonds.
The baby bonds will have an early redemption feature beginning in 2021 and will have a maturity date in 2028.
Standard features will apply. Quarterly paying, non qualified interest payments etc.
The company currently has a 6.25% baby bond outstanding (NYSE:PBB) which had been trading around $25.70–before tumbling 40 cents in the last few minutes.