Prospect Capital Invests $279 Mln In Harbortouch - Quick Facts

(RTTNews) - Prospect Capital Corp.(PSEC) Tuesday said it has invested $279 million of first-lien senior secured debt and equity for recapitalizing Harbortouch Payments. It was a co-investment with Jared Isaacman, Founder and Chief Executive Officer of Harbortouch.

With the transaction, in addition to being a lender, Prospect has become a shareholder in Harbortouch, a U.S-based provider of transaction processing services and point-of-sale equipments.

Commenting on the transaction,Harbortouch's Chief Executive said:"This is the second transaction we have closed with Prospect. Prospect's responsiveness and ability to work creatively were critical to a successful closing."

Prospect's March 2014 quarter closed over $1.3 billion of originations, with further origination activity expected in the coming months.