PSEC – A Prospect Capital Fund

Prospect Capital Closes Private Offering of $172.5 Million of 5.5% 5.5-Year Unsecured Convertible Senior Notes

February 18, 2011

NEW YORK, NY – (MARKET WIRE) – 02/18/11 – Prospect Capital Corporation
(NASDAQ: PSEC) (“Prospect” or “Company”) announced today that it has
closed a private placement of 5.5-year unsecured 5.50% Convertible
Senior Notes Due 2016 (…