Solar Capital adds lender, lifts credit facility to $540 million

By Toni Weeks

San Luis Obispo, Calif., Dec. 20 - Solar Capital Ltd. announced that a new lender committed $50 million of revolving credit to the company's senior secured credit facility on Dec. 16, according to an 8-K filed Friday with the Securities and Exchange Commission.

The additional commitment increases the credit facility to $540 million from $490 million. It continues to be expandable to up to $800 million via an accordion feature.

The maturity date for the facility continues to be June 2018.

Solar Capital is a closed-end, externally managed investment company based in New York. It invests primarily in leveraged, middle-market companies in the form of senior secured loans, mezzanine loans and equity securities.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.