| Schedule of Senior Securities |
Information about our senior securities is shown in the following table as of the end of each of the last ten fiscal years and as of June 30, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total Amount
Outstanding(1) | | Asset
Coverage per
Unit(2) | | Involuntary
Liquidating
Preference per
Unit | | Average
Market
Value per
Unit(3) | | Credit Facility | | | | | | | | | Fiscal 2025 (as of June 30, 2025) | | $ | 856,322 | | | $ | 7,846 | | | — | | | — | | | Fiscal 2024 (as of June 30, 2024) | | 794,796 | | | 9,746 | | | — | | | — | | | Fiscal 2023 (as of June 30, 2023) | | 1,014,703 | | | 7,639 | | | — | | | — | | | Fiscal 2022 (as of June 30, 2022) | | 839,464 | | | 9,015 | | | — | | | — | | | Fiscal 2021 (as of June 30, 2021) | | 356,937 | | | 17,408 | | | — | | | — | | | Fiscal 2020 (as of June 30, 2020) | | 237,536 | | | 22,000 | | | — | | | — | | | Fiscal 2019 (as of June 30, 2019) | | 167,000 | | | 34,298 | | | — | | | — | | | Fiscal 2018 (as of June 30, 2018) | | 37,000 | | | 155,503 | | | — | | | — | | | Fiscal 2017 (as of June 30, 2017) | | — | | | — | | | — | | | — | | | Fiscal 2016 (as of June 30, 2016) | | — | | | — | | | — | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total Amount
Outstanding(1) | | Asset
Coverage per
Unit(2) | | Involuntary
Liquidating
Preference per
Unit | | Average
Market
Value per
Unit(3) | | Fiscal 2015 (as of June 30, 2015) | | 368,700 | | | 18,136 | | | — | | | — | | | | | | | | | | | | 2015 Notes(4) | | | | | | | | | | Fiscal 2015 (as of June 30, 2015) | | $ | 150,000 | | | $ | 2,241 | | | — | | | — | | | | | | | | | | | | 2016 Notes(5) | | | | | | | | | | Fiscal 2016 (as of June 30, 2016) | | $ | 167,500 | | | $ | 2,269 | | | — | | | — | | | Fiscal 2015 (as of June 30, 2015) | | 167,500 | | | 2,241 | | | — | | | — | | | | | | | | | | | | 2017 Notes(6) | | | | | | | | | | Fiscal 2017 (as of June 30, 2017) | | $ | 50,734 | | | $ | 2,251 | | | — | | | — | | | Fiscal 2016 (as of June 30, 2016) | | 129,500 | | | 2,269 | | | — | | | — | | | Fiscal 2015 (as of June 30, 2015) | | 130,000 | | | 2,241 | | | — | | | — | | | | | | | | | | | | 2018 Notes(7) | | | | | | | | | | Fiscal 2017 (as of June 30, 2017) | | $ | 85,419 | | | $ | 2,251 | | | — | | | — | | | Fiscal 2016 (as of June 30, 2016) | | 200,000 | | | 2,269 | | | — | | | — | | | Fiscal 2015 (as of June 30, 2015) | | 200,000 | | | 2,241 | | | — | | | — | | | | | | | | | | | | 2019 Notes(8) | | | | | | | | | | Fiscal 2018 (as of June 30, 2018) | | $ | 101,647 | | | $ | 2,452 | | | — | | | — | | | Fiscal 2017 (as of June 30, 2017) | | 200,000 | | | 2,251 | | | — | | | — | | | Fiscal 2016 (as of June 30, 2016) | | 200,000 | | | 2,269 | | | — | | | — | | | Fiscal 2015 (as of June 30, 2015) | | 200,000 | | | 2,241 | | | — | | | — | | | | | | | | | | | 5.00% 2019 Notes(9) | | | | | | | | | | Fiscal 2018 (as of June 30, 2018) | | $ | 153,536 | | | $ | 2,452 | | | — | | | — | | | Fiscal 2017 (as of June 30, 2017) | | 300,000 | | | 2,251 | | | — | | | — | | | Fiscal 2016 (as of June 30, 2016) | | 300,000 | | | 2,269 | | | — | | | — | | | Fiscal 2015 (as of June 30, 2015) | | 300,000 | | | 2,241 | | | — | | | — | | | | | | | | | | | | 2020 Notes(12) | | | | | | | | | | Fiscal 2019 (as of June 30, 2019) | | $ | 224,114 | | | $ | 2,365 | | | — | | | — | | | Fiscal 2018 (as of June 30, 2018) | | 392,000 | | | 2,452 | | | — | | | — | | | Fiscal 2017 (as of June 30, 2017) | | 392,000 | | | 2,251 | | | — | | | — | | | Fiscal 2016 (as of June 30, 2016) | | 392,000 | | | 2,269 | | | — | | | — | | | Fiscal 2015 (as of June 30, 2015) | | 392,000 | | | 2,241 | | | — | | | — | | | | | | | | | | | | 2022 Notes(16) | | | | | | | | | | Fiscal 2022 (as of June 30, 2022) | | $ | 60,501 | | | $ | 2,733 | | | — | | | — | | | Fiscal 2021 (as of June 30, 2021) | | 111,055 | | | 2,740 | | | — | | | — | | | Fiscal 2020 (as of June 30, 2020) | | 258,240 | | | 2,408 | | | — | | | — | | | Fiscal 2019 (as of June 30, 2019) | | 328,500 | | | 2,365 | | | — | | | — | | | Fiscal 2018 (as of June 30, 2018) | | 328,500 | | | 2,452 | | | — | | | — | | | Fiscal 2017 (as of June 30, 2017) | | 225,000 | | | 2,251 | | | — | | | — | | | | | | | | | | | | 2023 Notes(10)(17) | | | | | | | | | | Fiscal 2022 (as of June 30, 2022) | | $ | 284,219 | | | $ | 2,733 | | | — | | | — | | | Fiscal 2021 (as of June 30, 2021) | | 284,219 | | | 2,740 | | | — | | | — | | | Fiscal 2020 (as of June 30, 2020) | | 319,145 | | | 2,408 | | | — | | | — | | | Fiscal 2019 (as of June 30, 2019) | | 318,863 | | | 2,365 | | | — | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total Amount
Outstanding(1) | | Asset
Coverage per
Unit(2) | | Involuntary
Liquidating
Preference per
Unit | | Average
Market
Value per
Unit(3) | | Fiscal 2018 (as of June 30, 2018) | | 318,675 | | | 2,452 | | | — | | | — | | | Fiscal 2017 (as of June 30, 2017) | | 248,507 | | | 2,251 | | | — | | | — | | | Fiscal 2016 (as of June 30, 2016) | | 248,293 | | | 2,269 | | | — | | | — | | | Fiscal 2015 (as of June 30, 2015) | | 248,094 | | | 2,241 | | | — | | | — | | | | | | | | | | | | 2024 Notes(13) | | | | | | | | | | Fiscal 2020 (as of June 30, 2020) | | $ | 233,788 | | | $ | 2,408 | | | — | | | $ | 959 | | | Fiscal 2019 (as of June 30, 2019) | | 234,443 | | | 2,365 | | | — | | | 1,002 | | | Fiscal 2018 (as of June 30, 2018) | | 199,281 | | | 2,452 | | | — | | | 1,029 | | | Fiscal 2017 (as of June 30, 2017) | | 199,281 | | | 2,251 | | | — | | | 1,027 | | | Fiscal 2016 (as of June 30, 2016) | | 161,364 | | | 2,269 | | | — | | | 951 | | | | | | | | | | | 6.375% 2024 Notes(10)(18) | | | | | | | | | | Fiscal 2023 (as of June 30, 2023) | | $ | 81,240 | | | $ | 2,970 | | | — | | | — | | | Fiscal 2022 (as of June 30, 2022) | | 81,240 | | | 2,733 | | | — | | | — | | | Fiscal 2021 (as of June 30, 2021) | | 81,389 | | | 2,740 | | | — | | | — | | | Fiscal 2020 (as of June 30, 2020) | | 99,780 | | | 2,408 | | | — | | | — | | | Fiscal 2019 (as of June 30, 2019) | | 99,726 | | | 2,365 | | | — | | | — | | | | | | | | | | | | 2025 Notes(19) | | | | | | | | | | Fiscal 2024 (as of June 30, 2024) | | $ | 156,168 | | | $ | 3,155 | | | — | | | — | | | Fiscal 2023 (as of June 30, 2023) | | 156,168 | | | 2,970 | | | — | | | — | | | Fiscal 2022 (as of June 30, 2022) | | 156,168 | | | 2,733 | | | — | | | — | | | Fiscal 2021 (as of June 30, 2021) | | 156,168 | | | 2,740 | | | — | | | — | | | Fiscal 2020 (as of June 30, 2020) | | 201,250 | | | 2,408 | | | — | | | — | | | Fiscal 2019 (as of June 30, 2019) | | 201,250 | | | 2,365 | | | — | | | — | | | | | | | | | | | | 2026 Notes(20) | | | | | | | | | | Fiscal 2024 (as of June 30, 2024) | | $ | 400,000 | | | $ | 3,155 | | | — | | | — | | | Fiscal 2023 (as of June 30, 2023) | | 400,000 | | | 2,970 | | | — | | | — | | | Fiscal 2022 (as of June 30, 2022) | | 400,000 | | | 2,733 | | | — | | | — | | | Fiscal 2021 (as of June 30, 2021) | | 400,000 | | | 2,740 | | | — | | | — | | | | | | | | | | | 3.364% 2026 Notes | | | | | | | | | | Fiscal 2025 (as of June 30, 2025) | | $ | 300,000 | | | $ | 3,194 | | | — | | | — | | | Fiscal 2024 (as of June 30, 2024) | | 300,000 | | | 3,155 | | | — | | | — | | | Fiscal 2023 (as of June 30, 2023) | | 300,000 | | | 2,970 | | | — | | | — | | | Fiscal 2022 (as of June 30, 2022) | | 300,000 | | | 2,733 | | | — | | | — | | | Fiscal 2021 (as of June 30, 2021) | | 300,000 | | | 2,740 | | | — | | | — | | | | | | | | | | | 3.437% 2028 Notes | | | | | | | | | | Fiscal 2025 (as of June 30, 2025) | | $ | 300,000 | | | $ | 3,194 | | | — | | | — | | | Fiscal 2024 (as of June 30, 2024) | | 300,000 | | | 3,155 | | | — | | | — | | | Fiscal 2023 (as of June 30, 2023) | | 300,000 | | | 2,970 | | | — | | | — | | | Fiscal 2022 (as of June 30, 2022) | | 300,000 | | | 2,733 | | | — | | | — | | | | | | | | | | | | 2028 Notes(14) | | | | | | | | | | Fiscal 2020 (as of June 30, 2020) | | $ | 70,761 | | | $ | 2,408 | | | — | | | $ | 950 | | | Fiscal 2019 (as of June 30, 2019) | | 70,761 | | | 2,365 | | | — | | | 984 | | | Fiscal 2018 (as of June 30, 2018) | | 55,000 | | | 2,452 | | | — | | | 1,004 | | | | | | | | | | | | 2029 Notes(15) | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total Amount
Outstanding(1) | | Asset
Coverage per
Unit(2) | | Involuntary
Liquidating
Preference per
Unit | | Average
Market
Value per
Unit(3) | | Fiscal 2021 (as of June 30, 2021) | | $ | 69,170 | | | $ | 2,740 | | | — | | | $ | 1,028 | | | Fiscal 2020 (as of June 30, 2020) | | 69,170 | | | 2,408 | | | — | | | 970 | | | Fiscal 2019 (as of June 30, 2019) | | 69,170 | | | 2,365 | | | — | | | 983 | | | | | | | | | | | | Prospect Capital InterNotes® | | | | | | | | | Fiscal 2025 (as of June 30, 2025) | | $ | 647,232 | | | $ | 3,194 | | | — | | | — | | | Fiscal 2024 (as of June 30, 2024) | | 504,028 | | | 3,155 | | | — | | | — | | | Fiscal 2023 (as of June 30, 2023) | | 358,105 | | | 2,970 | | | — | | | — | | | Fiscal 2022 (as of June 30, 2022) | | 347,564 | | | 2,733 | | | — | | | — | | | Fiscal 2021 (as of June 30, 2021) | | 508,711 | | | 2,740 | | | — | | | — | | | Fiscal 2020 (as of June 30, 2020) | | 680,229 | | | 2,408 | | | — | | | — | | | Fiscal 2019 (as of June 30, 2019) | | 707,699 | | | 2,365 | | | — | | | — | | | Fiscal 2018 (as of June 30, 2018) | | 760,924 | | | 2,452 | | | — | | | — | | | Fiscal 2017 (as of June 30, 2017) | | 980,494 | | | 2,251 | | | — | | | — | | | Fiscal 2016 (as of June 30, 2016) | | 908,808 | | | 2,269 | | | — | | | — | | | Fiscal 2015 (as of June 30, 2015) | | 827,442 | | | 2,241 | | | — | | | — | | | | | | | | | | | Floating Rate Preferred Stock | | | | | | | | | Fiscal 2025 (as of June 30, 2025) | | $ | 229,771 | | | $ | 43 | | | $ | 25 | | | $ | — | | | Fiscal 2024 (as of June 30, 2024) | | 129,198 | | | 46 | | | 25 | | | — | | | | | | | | | | | 7.50% Preferred Stock | | | | | | | | | Fiscal 2025 (as of June 30, 2025) | | $ | 51,575 | | | $ | 43 | | | $ | 25 | | | $ | — | | | | | | | | | | | 6.50% Preferred Stock | | | | | | | | | Fiscal 2025 (as of June 30, 2025) | | $ | 659,069 | | | $ | 43 | | | $ | 25 | | | $ | — | | | Fiscal 2024 (as of June 30, 2024) | | 704,044 | | | 46 | | | 25 | | | — | | | Fiscal 2023 (as of June 30, 2023) | | 533,216 | | | 47 | | | 25 | | | — | | | | | | | | | | | 5.50% Preferred Stock | | | | | | | | | | Fiscal 2025 (as of June 30, 2025) | | $ | 701,205 | | | $ | 43 | | | $ | 25 | | | — | | | Fiscal 2024 (as of June 30, 2024) | | 772,133 | | | 46 | | | 25 | | | — | | | Fiscal 2023 (as of June 30, 2023) | | 870,268 | | | 47 | | | 25 | | | — | | | Fiscal 2022 (as of June 30, 2022) | | 590,197 | | | 54 | | | 25 | | | — | | | Fiscal 2021 (as of June 30, 2021) | | 137,040 | | | 65 | | | 25 | | | — | | | | | | | | | | | 5.35% Preferred Stock | | | | | | | | | | Fiscal 2025 (as of June 30, 2025) | | $ | 131,279 | | | $ | 43 | | | $ | 25 | | | $ | 17.12 | | | Fiscal 2024 (as of June 30, 2024) | | 131,279 | | | 46 | | | $ | 25 | | | 17.25 | | | Fiscal 2023 (as of June 30, 2023) | | 149,066 | | | 47 | | | $ | 25 | | | 15.98 | | | Fiscal 2022 (as of June 30, 2022) | | 150,000 | | | 54 | | | $ | 25 | | | 21.08 | | | | | | | | | | | | All Senior Securities(10)(11) | | | | | | | | | Fiscal 2025 (as of June 30, 2025) | | $ | 3,876,453 | | | $ | 1,733 | | | — | | | — | | | Fiscal 2024 (as of June 30, 2024) | | 4,191,646 | | | 1,848 | | | — | | | — | | | Fiscal 2023 (as of June 30, 2023) | | 4,162,766 | | | 1,862 | | | — | | | — | | | Fiscal 2022 (as of June 30, 2022) | | 3,509,353 | | | 2,156 | | | — | | | — | | | Fiscal 2021 (as of June 30, 2021) | | 2,404,689 | | | 2,584 | | | — | | | — | | | Fiscal 2020 (as of June 30, 2020) | | 2,169,899 | | | 2,408 | | | — | | | — | | | Fiscal 2019 (as of June 30, 2019) | | 2,421,526 | | | 2,365 | | | — | | | — | | | Fiscal 2018 (as of June 30, 2018) | | 2,346,563 | | | 2,452 | | | — | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total Amount
Outstanding(1) | | Asset
Coverage per
Unit(2) | | Involuntary
Liquidating
Preference per
Unit | | Average
Market
Value per
Unit(3) | | Fiscal 2017 (as of June 30, 2017) | | 2,681,435 | | | 2,251 | | | — | | | — | | | Fiscal 2016 (as of June 30, 2016) | | 2,707,465 | | | 2,269 | | | — | | | — | | | Fiscal 2015 (as of June 30, 2015) | | 2,983,736 | | | 2,241 | | | — | | | — | |
(1) Except for the per unit data noted in footnote 2 and 3 below, the total amount of each class of senior securities outstanding at the end of the year/period presented (in 000’s). (2)The asset coverage ratio for a class of secured senior securities representing indebtedness is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by secured senior securities representing indebtedness. The asset coverage ratio for a class of unsecured senior securities representing indebtedness is inclusive of all senior securities representing indebtedness. With respect to the senior securities represented by indebtedness, this asset coverage ratio is multiplied by $1,000 to determine the Asset Coverage Per Unit. The asset coverage ratio for a class of senior securities representing preferred stock is calculated as our consolidated total assets, less all liabilities and indebtedness not represented by senior securities, divided by the sum of all senior securities representing indebtedness and the involuntary liquidation preference of senior securities representing preferred stock (the “Total Asset Coverage Ratio”). With respect to the Preferred Stock, the Asset Coverage Per Unit figure is expressed in terms of a dollar amount per share of outstanding Preferred Stock (based on a per share liquidation preference of $25). The rows reflecting “All Senior Securities” reflect the Total Asset Coverage Ratio as the asset coverage ratio, and express Asset Coverage Per Unit as per $1,000 of indebtedness or per $1,000 of Preferred Stock liquidation preference. (3)This column is inapplicable, except for the 2024 Notes, the 2028 Notes, the 2029 Notes, and the 5.35% Preferred Stock. The average market value per unit is calculated as an average of quarter-end prices. With respect to the senior securities represented by indebtedness, the market value is shown per $1,000 of indebtedness. (4)We repaid the outstanding principal amount of the 2015 Notes on December 15, 2015. (5)We repaid the outstanding principal amount of the 2016 Notes on August 15, 2016. (6)We repaid the outstanding principal amount of the 2017 Notes on October 15, 2017. (7)We repaid the outstanding principal amount of the 2018 Notes on March 15, 2018. (8)We repaid the outstanding principal amount of the 2019 Notes on January 15, 2019. (9)We redeemed the 5.00% 2019 Notes on September 26, 2018. (10)For the fiscal years ended June 30, 2020 or prior, the 2023 Notes and 6.375% 2024 Notes are presented net of unamortized discount. (11)While we do not consider commitments to fund under revolving arrangements to be Senior Securities, if we were to elect to treat such unfunded commitments, which were $40,707 as of June 30, 2025 as Senior Securities for purposes of Section 18 of the 1940 Act, our asset coverage per unit would be $1,715. (12)We repaid the outstanding principal amount of the 2020 Notes on April 15, 2020. (13)We redeemed the 2024 Notes on February 16, 2021. (14)We redeemed the 2028 Notes on June 15, 2021. (15)We redeemed the 2029 Notes on December 30, 2021. (16)We redeemed the 2022 Notes on July 15, 2022. (17)We redeemed the 2023 Notes on March 15, 2023. (18)We redeemed the 6.375% 2024 Notes on January 16, 2024. (19)We repaid the outstanding principal amount of the 2025 Notes on March 3, 2025. (20)We redeemed the 2026 Notes on June 18, 2025.
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| Schedule of Carrying Values and Estimated Fair Values of Debt Instruments |
The following table shows our outstanding debt as of June 30, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Principal Outstanding | | Unamortized Discount & Debt Issuance Costs | | Net Carrying Value | | Fair Value | | Effective Interest Rate | | | Revolving Credit Facility | $ | 856,322 | | | $ | 18,842 | | | $ | 856,322 | | (1) | $ | 856,322 | | (2) | 1M SOFR + | 2.05% | (5) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3.364% | 2026 Notes | 300,000 | | | 2,019 | | | 297,981 | | | 286,707 | | (3) | 3.87 | % | (6) | | | 3.437% | 2028 Notes | 300,000 | | | 4,537 | | | 295,463 | | | 268,671 | | (3) | 3.93 | % | (6) | | | Public Notes | 600,000 | | | | | 593,444 | | | 555,378 | | | | | | | | | | | | | | | | | | | | Prospect Capital InterNotes® | 647,232 | | | 8,687 | | | 638,545 | | | 607,339 | | (4) | 5.85 | % | (7) | | | Total | | $ | 2,103,554 | | | | | $ | 2,088,311 | | | $ | 2,019,039 | | | | | |
(1)Net Carrying Value excludes deferred financing costs associated with the Revolving Credit Facility. See Note 2 for accounting policy details. (2)The fair value of the Revolving Credit Facility is equal to its carrying value because the revolver is a floating rate facility that reprices to a market rate frequently. The fair value is categorized as Level 2 under ASC 820. (3)We use available market quotes to estimate the fair value of the Convertible Notes and Public Notes. The fair value of these debt obligations are categorized as Level 1 under ASC 820. (4)The fair value of Prospect Capital InterNotes® is estimated by discounting remaining payments using current Treasury rates plus spread based on observable market inputs. The fair value of these debt obligations are categorized as Level 3 under ASC 820. (5)Represents the rate on drawn down and outstanding balances. Deferred debt issuance costs are amortized on a straight-line method over the stated life of the obligation. (6)The effective interest rate is equal to the effect of the stated interest, the accretion of original issue discount and amortization of debt issuance costs. (7)For the Prospect Capital InterNotes®, the rate presented is the weighted average effective interest rate. Interest expense and deferred debt issuance costs, which are amortized on a straight-line method over the stated life of the obligation which approximates level yield, are weighted against the average outstanding principal balance.
The following table shows our outstanding debt as of June 30, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Principal Outstanding | | Unamortized Discount & Debt Issuance Costs | | Net Carrying Value | | Fair Value | | Effective Interest Rate | | | Revolving Credit Facility | $ | 794,796 | | | $ | 22,975 | | | $ | 794,796 | | (1) | $ | 794,796 | | (2) | 1M SOFR + | 2.05 | % | (5) | | | | | | | | | | | | | | | 2025 Notes | 156,168 | | | 649 | | | 155,519 | | | 155,632 | | (3) | 6.63 | % | (6) | | Convertible Notes | 156,168 | | | | | 155,519 | | | 155,632 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2026 Notes | 400,000 | | | 3,263 | | | 396,737 | | | 381,344 | | (3) | 3.98 | % | (6) | | 3.364% | 2026 Notes | 300,000 | | | 3,388 | | | 296,612 | | | 275,601 | | (3) | 3.60 | % | (6) | | 3.437% | 2028 Notes | 300,000 | | | 5,782 | | | 294,218 | | | 256,050 | | (3) | 3.64 | % | (6) | | Public Notes | 1,000,000 | | | | | 987,567 | | | 912,995 | | | | | | | | | | | | | | | | | | | Prospect Capital InterNotes® | 504,028 | | | 7,999 | | | 496,029 | | | 479,748 | | (4) | 6.33 | % | (7) | | Total | $ | 2,454,992 | | | | | $ | 2,433,911 | | | $ | 2,343,171 | | | | | |
(1)Net Carrying Value excludes deferred financing costs associated with the Revolving Credit Facility. See Note 2 for accounting policy details. (2)The fair value of the Revolving Credit Facility is equal to its carrying value because the revolver is a floating rate facility that reprices to a market rate frequently. The fair value is categorized as Level 2 under ASC 820. (3)We use available market quotes to estimate the fair value of the Convertible Notes and Public Notes. The fair value of these debt obligations are categorized as Level 1 under ASC 820. (4)The fair value of Prospect Capital InterNotes® is estimated by discounting remaining payments using current Treasury rates plus spread based on observable market inputs. The fair value of these debt obligations are categorized as Level 3 under ASC 820. (5)Represents the rate on drawn down and outstanding balances. Deferred debt issuance costs are amortized on a straight-line method over the stated life of the obligation. (6)The effective interest rate is equal to the effect of the stated interest, the accretion of original issue discount and amortization of debt issuance costs. (7)For the Prospect Capital InterNotes®, the rate presented is the weighted average effective interest rate. Interest expense and deferred debt issuance costs, which are amortized on a straight-line method over the stated life of the obligation which approximates level yield, are weighted against the average year-to-date principal balance.
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