NEW YORK, NY--(Marketwired - Oct 20, 2014) - Prospect Capital Corporation (
Founded in 1992, Onyx is the world's leading processor of hotel payment disbursement and reconciliation solutions, facilitating in excess of $500 million payments annually. Onyx is headquartered in Dallas, Texas, and has regional hubs in London, Singapore, New York, and Scottsdale, Arizona. Onyx operates a global payment network, with services including commission receipt and disbursement, foreign currency exchange, invoicing and reconciliation, and tracking. Net Trans, a provider of complete hotel commission recovery and reconciliation services for travel agencies and other booking professionals, and WPS, a provider of data and commission processing services for hotels, complement and boost Onyx's existing commission processing services and further expand Onyx's global reach to the European and Asian markets.
"We are excited to strengthen Onyx's competitive position in hotel commission payment processing and travel agency reconciliation services," said Mark Dubrow, CEO of Onyx. "We also are impressed with Prospect's ability to navigate a complex transaction involving multiple international entities. This investment allows us to further expand our global footprint."
"Prospect is delighted to support the growth of Onyx with this follow-on investment," said Jason Wilson, Managing Director of Prospect Capital Management LLC. "Prospect's ability to hold large one-stop investments is a significant differentiator in the middle market."
Currently with over $7 billion of capital under management, Prospect has closed over $2 billion of new originations so far in calendar year 2014.
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation ( www.prospectstreet.com ) is a business development company that focuses on lending to and investing in private businesses. Prospect's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
Prospect has elected to be treated as a business development company under the Investment Company Act of 1940 ("1940 Act"). Prospect is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to Prospect could have an adverse effect on Prospect and its shareholders.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under Prospect's control, and that Prospect may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and Prospect undertakes no obligation to update any such statement now or in the future.
