By Devika Patel
Knoxville, Tenn., Nov. 10 – Solar Capital Ltd. said it completed a $50 million private placement of 4.4% senior unsecured notes due May 8, 2022.
Interest is payable semiannually.
“The issuance enhances our unsecured to secured debt mix and further extends our maturity profile,” chairman and chief executive officer Michael Gross said in a press release.
Proceeds will be used to reduce borrowings under the company's revolving credit facility, for new portfolio investments and general corporate purposes.
Solar Capital is a business development company based in New York.
| Issuer: | Solar Capital Ltd.
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| Issue: | Senior unsecured notes
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| Amount: | $50 million
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| Maturity: | May 8, 2022
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| Coupon: | 4.4%
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| Settlement date: | Nov. 10
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| Distribution: | Private placement
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