By Devika Patel
Knoxville, Tenn., Dec. 18 – Solar Capital Ltd. sold $200 million of unsecured notes a two-tranche private placement on Dec. 18, according to an 8-K filed with the Securities and Exchange Commission.
The notes include $125 million of 4.2% series 2016D A notes due Dec. 15, 2024 and $75 million of 4.375% series 2016D B notes due Dec. 15, 2026.
Proceeds will initially be used to reduce outstanding borrowings on the company’s revolving credit facility before funding additional portfolio company investments and general corporate purposes.
Solar Capital is a closed-end, externally managed, non-diversified management investment company.
| Issuer: | Solar Capital Ltd.
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| Issue: | Unsecured notes
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| Amount: | $200 million
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| Pricing date: | Dec. 18
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| Distribution: | Private placement
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| Series 2016D A notes
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| Amount: | $125 million
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| Maturity: | Dec. 15, 2024
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| Coupon: | 4.2%
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| Series 2016D B notes
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| Amount: | $75 million
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| Maturity: | Dec. 15, 2026
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| Coupon: | 4.375%
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