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Prospect Capital Provides $200MM First-Lien Debt to Support H.I.G. Portfolio Company

March 22, 2013, 07:21 AM

Prospect Capital recently provided a $200 million first-lien senior secured credit facility to support the refinancing of a logistics services portfolio company controlled by H.I.G. Capital (H.I.G.).

The H.I.G. portfolio company is a leading provider of third-party logistics (3PL) services. The $200 million financing provided by Prospect marks the third consecutive time in the last two years that Prospect has supported H.I.G.'s efforts, positioning the company for continued growth and long-term success.

"Prospect is a constructive and reliable financing relationship," said Jeff Zanarini, a managing director of H.I.G. "Prospect provided a compelling alternative to the syndicated capital markets and allowed us to consummate an attractive refinancing on a highly expedited basis."

"Since investing in this logistics services company, Prospect has seen the company grow its leadership position as a provider of 3PL services to distribution center operators," said Jason Wilson, a managing director of Prospect Capital Management. "This transaction shows Prospect can lead significant-sized transactions for middle-market and larger companies, competing effectively with syndicated debt markets and providing more debt capital options for our private equity sponsor and other relationships."

Prospect Capital Corporation is a closed-end investment company that lends to and invests in private and microcap public businesses.

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