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Prospect Capital Purchases $25MM of First Lien Senior Secured Floating Rate Notes Issued by Luminex

January 26, 2018, 07:05 AM
Filed Under: Industry News

Prospect Capital Corporation announced that Prospect has purchased $25 million of first lien senior secured floating rate notes issued to support the recapitalization of Luminex Home Décor & Fragrance Company, LLC ("Luminex"). Luminex is a portfolio company of affiliates of Centre Lane Partners, LLC ("Centre Lane") and The Carlyle Group ("Carlyle").

Headquartered in Cincinnati, Ohio, Luminex is a leading designer, manufacturer, and distributor of branded and private label wax candles, home fragrances, and home decors. Luminex primarily serves as a wholesale distributor to the food, drug, and mass retail channels in the United States, with sales through the direct-to-consumer channel internationally.

"We are excited to work with Prospect as a repeat relationship for the Luminex recapitalization," said Mayank Singh, Managing Director of Centre Lane.

"We were impressed with Luminex's manufacturing capabilities, deep customer relationships, and stable product demand," said Richard Carratu, Managing Director of Prospect Capital Management L.P. "Prospect is pleased to support two well-regarded sponsors, Centre Lane and Carlyle, with a financing solution designed to help Luminex achieve further domestic and international growth."

Prospect Capital Corporation 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.

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