Prospect Capital Corporation (NASDAQ:PSEC) Q3 2024 Earnings Call Transcript

All of these types of unsecured debt have no financial covenants, no asset restrictions and no cross defaults with our revolver. We currently have five investment-grade ratings more than any other company in our industry. We have now attached the unsecured term debt market on multiple occasions to ladder our maturities and to extend our liability duration out 28 years. Our debt maturities extend through 2052. With so many banks and debt investors across so many unsecured and non-recourse debt tranches, we have substantially reduced our counterparty risk. To-date, we have raised $1.8 billion in aggregate issuance of our perpetual preferred stock across our preferred programs and listed preferred, including $69.4 million in the March 2024 quarter and $2.7 million to date in the current June 2024 quarter.

At March 31, 2024, our weighted average cost of unsecured debt financing was 4.14%, a decrease of 0.01% from the December quarter and an increase of 0.07% from March 31, 2023. Now, I’ll turn the call back over to John.

John Barry: Thank you, Kristin. We could take questions now.

Operator:

John Barry: Okay. Thank you, everyone. I have some closing remarks, and I just finish them. Thank you very much. Bye now.

Operator: Conference has now concluded.