Prospect Capital Corporation has upsized its existing credit facilities to Onyx Payments (“Onyx”), an H.I.G. Capital portfolio company, by $86.1 million to facilitate Onyx's recapitalization and acquisitions of Net Trans Services AS (“Net Trans”) and Worldwide Payment Systems SA (“WPS”). Prospect is now the sole lender and agent of the first lien senior secured debt issued by Onyx.

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.