Solar Senior expands revolver to $175 million, extends maturity

By Marisa Wong

Madison, Wis., July 3 – Solar Senior Capital Ltd. said its wholly owned financing subsidiary, SUNS SPV LLC, amended its senior secured revolving credit facility with Citibank NA as administrative agent on June 30.

This amendment reduces commitments under the credit facility by $25 million to $175 million, according to an 8-K filing with the Securities and Exchange Commission.

The amended revolver may be expanded up to $600 million under its accordion feature.

The amendment allows for greater investment flexibility and extends the final maturity date to June 28, 2019.

The interest rate remains at Libor plus 200 basis points with no Libor floor.

Based in New York, Solar Senior invests primarily in leveraged, middle-market companies in the form of senior secured loans, including first-lien, unitranche and second-lien debt instruments.

© 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.