Solar Capital plans to sell at least $75 million $25-par senior notes; talk around 6.75%

By Stephanie N. Rotondo

Phoenix, Nov. 8 - Solar Capital Ltd. intends to issue at least $75 million of senior notes due Nov. 15, 2042, the company said in a prospectus filed with the Securities and Exchange Commission on Thursday.

Price talk is around 6.75%, according to a trader.

Interest will be payable on the 15th day of February, May, August and November, beginning Feb. 15, 2013. The notes will become callable on or after Nov. 15, 2017 at par plus accrued interest.

The company will apply to list the notes on the New York Stock Exchange.

Joint bookrunners are Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, Deutsche Bank Securities Inc. and RBC Capital Markets LLC.

Proceeds will be used to pay down debt and for general corporate purposes.

Solar Capital is a closed-end, externally managed, non-diversified management investment company.

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