On March 15, 2013, we issued $250,000 aggregate principal amount of unsecured notes that mature on March 15, 2023 (the “Original 2023 Notes”). The Original 2023 Notes bear interest at a rate of 5.875% per year, payable semi-annually on March 15 and September 15 of each year, beginning September 15, 2013. Total proceeds from the issuance of the Original 2023 Notes, net of underwriting discounts and offering costs, were $243,641. On June 20, 2018, we issued an additional $70,000 aggregate principal amount of unsecured notes that mature on March 15, 2023 (the “Additional 2023 Notes”, and together with the Original 2023 Notes, the “2023 Notes”). The Additional 2023 Notes were a further issuance of, and are fully fungible and rank equally in right of payment with, the Original 2023 Notes and bear interest at a rate of 5.875% per year, payable semi-annually on March 15 and September 15 of each year, beginning September 15, 2018. Total proceeds from the issuance of the Additional 2023 Notes, net of underwriting discounts, were $69,403.

During the year ended June 30, 2023, we commenced various tender offers to purchase for cash any and all outstanding aggregate principal amount of the 2023 Notes at prices ranging from 98.00% to 98.75%, plus accrued and unpaid interest. As a result, $2,104 aggregate principal amount of the 2023 Notes were validly tendered and accepted, and we recognized a realized loss of $30 from the extinguishment of debt in the amount of the difference between the reacquisition price and the net carrying amount of the 2023 Notes, net of the proportionate amount of unamortized debt issuance costs.

As of June 30, 2022, the outstanding aggregate principal amount of the 2023 Notes was $284,219. On March 15, 2023, we repaid the remaining outstanding principal amount of $282,115 of the 2023 Notes, plus interest, at maturity.

On October 1, 2018, we issued $100,000 aggregate principal amount of unsecured notes that mature on January 15, 2024 (the “6.375% 2024 Notes”). The 6.375% 2024 Notes bear interest at a rate of 6.375% per year, payable semi-annually on January 15 and July 15 of each year, beginning January 15, 2019. Total proceeds from the issuance of the 6.375% 2024 Notes, net of underwriting discounts and offering costs, were $98,985.

As of June 30, 2023, the outstanding aggregate principal amount of the 6.375% 2024 Notes was $81,240. On January 16, 2024, we repaid the remaining outstanding principal amount of $81,240 of the 6.375% 2024 Notes, plus interest, at maturity.

On January 22, 2021, we issued $325,000 aggregate principal amount of unsecured notes that mature on January 22, 2026 (the “Original 2026 Notes”). The Original 2026 Notes bore interest at a rate of 3.706% per year, payable semi-annually on July 22, and January 22 of each year, beginning on July 22, 2021. Total proceeds from the issuance of the 2026 Notes, net of underwriting discounts and offering costs, were $317,720. On February 19, 2021, we issued an additional $75,000 aggregate principal amount of unsecured notes that mature on January 22, 2026 (the “Additional 2026 Notes”, and together with the Original 2026 Notes, the “2026 Notes”). The Additional 2026 Notes were a further issuance of, and are fully fungible and rank equally in right of payment with, the Original 2026 Notes and bore interest at a rate of 3.706% per year, payable semi-annually on July 22 and January 22 of each year, beginning July 22, 2021. Total proceeds from the issuance of the Additional 2026 Notes, net of underwriting discounts and offering costs, were $74,061.

As of June 30, 2024, the outstanding aggregate principal amount of the 2026 Notes was $400,000. During the year ended June 30, 2025, we repurchased $57,053 aggregate principal amount of the 2026 Notes at a weighted average price of 97.44%, including commissions, plus accrued and unpaid interest. As a result, we recognized a net realized gain of $1,264 from the extinguishment of debt in the amount of the difference between the reacquisition price and the net carrying amount of the repurchased 2026 Notes.

During the year ended June 30, 2025, we commenced a tender offer to purchase for cash any and all of the aggregate principal amount of our outstanding 2026 Notes at a purchase price of 99.00%, plus accrued and unpaid interest. As a result, $135,731 aggregate principal amount of the 2026 Notes were validly tendered and accepted, and we recognized a net realized gain of $874 from the extinguishment of debt in the amount of the difference between the reacquisition price and the net carrying amount of the tendered 2026 Notes.

On June 18, 2025, we redeemed the remaining outstanding principal amount of $207,216 of the 2026 Notes, at a price of 100.00%, plus accrued and unpaid interest. The transaction resulted in our recognizing a loss of $998 during the year ended June 30, 2025. Following the redemption, none of the 2026 Notes remained outstanding.

On May 27, 2021, we issued $300,000 aggregate principal amount of unsecured notes that mature on November 15, 2026 (the “3.364% 2026 Notes”). The 3.364% 2026 Notes bear interest at a rate of 3.364% per year, payable semi-annually on November 15, and May 15 of each year, beginning on November 15, 2021. Total proceeds from the issuance of the 3.364% 2026 Notes, net of underwriting discounts and offering costs, were $293,283. As of June 30, 2025 and June 30, 2024, the outstanding aggregate principal amount of the 3.364% 2026 Notes were $300,000 and $300,000, respectively.

On September 30, 2021, we issued $300,000 aggregate principal amount of unsecured notes that mature on October 15, 2028 (the “3.437% 2028 Notes”). The 3.437% 2028 Notes bear interest at a rate of 3.437% per year, payable semi-annually on April 15 and October 15 of each year, beginning on April 15, 2022. Total proceeds from the issuance of the 3.437% 2028 Notes, net of underwriting discounts and offering costs, were $291,798. As of June 30, 2025 and June 30, 2024, the outstanding aggregate principal amount of the 3.437% 2028 Notes were $300,000 and $300,000, respectively.

The 2023 Notes, the 6.375% 2024 Notes, the 2026 Notes, the 3.364% 2026 Notes, and the 3.437% 2028 Notes (collectively, the “Public Notes”) are direct unsecured obligations and rank equally with all of our unsecured indebtedness from time to time outstanding.

In connection with the issuance of the Public Notes we recorded a discount of $8,919 and debt issuance costs of $7,565, which are being amortized over the term of the notes. As of June 30, 2025 and June 30, 2024, $3,566 and $6,462 of the original issue discount and $2,990 and $5,971, respectively, of the debt issuance costs remain to be amortized and are included as a reduction within Public Notes on the Consolidated Statement of Assets and Liabilities.

On February 13, 2020, we entered into a selling agent agreement with InspereX LLC (formerly known as “Incapital LLC”) (the “Selling Agent Agreement”), authorizing the issuance and sale from time to time of up to $1,000,000 of Prospect Capital InterNotes® (collectively with previously authorized selling agent agreements, the “InterNotes® Offerings”). On February 8, 2023, our Board of Directors reauthorized $1,000,000 of Prospect Capital InterNotes® for sale under the Selling Agent Agreement. Additional agents may be appointed by us from time to time in connection with the InterNotes® Offering and become parties to the Selling Agent Agreement. We have, from time to time, repurchased certain notes issued through the InterNotes® Offerings and, therefore, as of June 30, 2025 and June 30, 2024, $647,232 and $504,028 aggregate principal amount of Prospect Capital InterNotes® were outstanding.

These notes are direct unsecured obligations and rank equally with all of our unsecured indebtedness from time to time outstanding. Each series of notes will be issued by a separate trust. These notes bear interest at fixed interest rates and offer a variety of maturities no less than twelve months from the original date of issuance.

During the year ended June 30, 2025, we issued $151,592 aggregate principal amount of Prospect Capital InterNotes® for net proceeds of $149,431. These notes were issued with stated interest rates ranging from 6.50% to 8.00% with a weighted average interest rate of 7.15%. These notes will mature between July 15, 2027 and December 15, 2034. The following table summarizes the Prospect Capital InterNotes® issued during the year ended June 30, 2025:


Tenor at Origination (in years)	Principal Amount		Interest Rate Range	Weighted Average Interest Rate	Maturity Date Range
3	$	60,429	6.50% – 7.50%	6.96%	July 15, 2027 – July 15, 2028
5	48,993		6.75% – 7.75%	7.18%	July 15, 2029 – July 15, 2030

7	718		8.00% – 8.00%	8.00%	May 15, 2032 – July 15, 2032
10	41,452		7.00% – 7.75%	7.39%	July 15, 2034 – December 15, 2034

	$	151,592

During the year ended June 30, 2024, we issued $156,840 aggregate principal amount of our Prospect Capital InterNotes® for net proceeds of $154,511. These notes were issued with stated interest rates ranging from 5.75% to 8.00% with a weighted average interest rate of 7.14%. These notes will mature between July 15, 2026 and November 15, 2043.


Tenor at Origination (in years)	Principal Amount		Interest Rate	Weighted Average Interest Rate	Maturity Date Range
3	$	54,209	5.75% - 7.25%	6.72%	July 15, 2026 – June 15, 2027
5	47,685		6.75% - 7.75%	7.20%	November 15, 2028 – June 15, 2029
6	899		6.00% - 6.25%	6.02%	July 15, 2029 – November 15, 2029
7	6,467		7.50% - 8.00%	7.87%	November 15, 2030 – December 15, 2030
10	45,674		6.25% - 8.00%	7.54%	July 15, 2033 – June 15, 2034
20	1,906		6.50% - 7.50%	6.58%	July 15, 2043 – November 15, 2043
	$	156,840

During the year ended June 30, 2025, we repaid $6,889 aggregate principal amount of Prospect Capital InterNotes® at par in accordance with the Survivor’s Option of the InterNotes®. As a result of these transactions, we recorded a loss in the amount of the unamortized debt issuance costs. The net loss on the extinguishment of Prospect Capital InterNotes® in the year ended June 30, 2025 was $168.


Tenor at Origination (in years)	Principal Amount		Interest Rate Range	Weighted Average Interest Rate	Maturity Date Range
3	$	123,367	5.00% – 7.50%	6.75%	October 15, 2025 – July 15, 2028
5	192,095		2.25% – 7.75%	5.26%	January 15, 2026 – July 15, 2030
6	18,312		3.00% – 6.25%	3.56%	June 15, 2027 – November 15, 2029
7	35,069		2.75% – 8.00%	4.14%	January 15, 2028 – July 15, 2032
8	3,190		3.40% – 3.50%	3.45%	June 15, 2029 – July 15, 2029
10	163,288		3.15% – 8.00%	5.86%	August 15, 2029 – December 15, 2034
12	13,404		3.70% – 4.00%	3.95%	June 15, 2033 – July 15, 2033
15	13,631		3.50% – 4.50%	3.84%	July 15, 2036 – February 15, 2037
18	2,949		4.50% – 5.50%	4.82%	January 15, 2031 – April 15, 2031
20	3,864		5.75% – 7.50%	6.23%	November 15, 2032 – November 15, 2043
25	7,287		6.25% – 6.50%	6.37%	November 15, 2038 – May 15, 2039
30	70,776		4.00% – 6.63%	5.38%	November 15, 2042 – March 15, 2052
Principal Outstanding	$	647,232

Unamortized Debt Issuance	(8,687)
Carrying Amount	$	638,545

During the year ended June 30, 2024, we repaid $10,255 aggregate principal amount of Prospect Capital InterNotes® at par in accordance with the Survivor’s Option, as defined in the InterNotes® Offering prospectus. As a result of these transactions, we recorded a loss in the amount of the unamortized debt issuance costs. The net loss on the extinguishment of Prospect Capital InterNotes® in the year ended June 30, 2024 was $248.


Tenor at Origination (in years)	Principal Amount		Interest Rate Range	Weighted Average Interest Rate	Maturity Date Range
3	$	64,439	2.50% - 7.25%	6.46%	February 15, 2025 – June 15, 2027
5	143,554		2.25% - 7.75%	4.60%	January 15, 2026 – June 15, 2029
6	18,348		3.00% - 6.25%	3.56%	June 15, 2027 – November 15, 2029
7	34,601		2.75% - 8.00%	4.05%	January 15, 2028 – December 15, 2030
8	3,215		3.40% - 3.50%	3.45%	June 15, 2029 – July 15, 2029
10	123,477		3.15% - 8.00%	5.30%	August 15, 2029 – June 15, 2034
12	13,748		3.70% - 4.00%	3.95%	June 15, 2033 – July 15, 2033
15	14,016		3.50% - 4.50%	3.84%	July 15, 2036 – February 15, 2037
18	2,949		4.50% - 5.50%	4.82%	January 15, 2031 – April 15, 2031
20	3,864		5.75% - 7.50%	6.23%	November 15, 2032 – November 15, 2043
25	7,494		6.25% - 6.50%	6.37%	November 15, 2038 – May 15, 2039
30	74,323		4.00% - 6.63%	5.34%	November 15, 2042 – March 15, 2052
Principal Outstanding	$	504,028

Unamortized debt issuance	(7,999)
Carrying Amount	$	496,029

During the years ended June 30, 2025, 2024, and 2023, we recorded $35,386, $19,075, and $15,012, respectively, of interest costs and amortization of financings costs on the Prospect Capital InterNotes® as interest expense.