By Cristal Cody
Tupelo, Miss., Nov. 13 – Solar Capital Ltd. priced $75 million of 4.5% notes due Jan. 20, 2023 on Monday at 99.211 to yield 4.675%, according to a press release and a 497AD filing with the Securities and Exchange Commission.
J.P. Morgan Securities LLC and Wells Fargo Securities, LLC were the bookrunners.
Proceed will be used to pay down outstanding debt under the company’s revolving credit facility.
Solar Capital is a New York-based closed-end investment company.
| Issuer: | Solar Capital Ltd.
|
| Amount: | $75 million
|
| Description: | Notes
|
| Maturity: | Jan. 20, 2023
|
| Bookrunners: | J.P. Morgan Securities LLC and Wells Fargo Securities, LLC
|
| Coupon: | 4.5%
|
| Price: | 99.211
|
| Yield: | 4.675%
|
| Call features: | Make-whole call at Treasuries plus 40 bps; at par one month prior to maturity
|
| Change-of-control put: | 101%
|
| Trade date: | Nov. 13
|
| Settlement date: | Nov. 22
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | SEC registered
|
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