Solar Senior Capital refinances revolver, extends maturity to 2023

By Marisa Wong

Morgantown, W.Va., June 8 – Solar Senior Capital Ltd. said its wholly owned financing subsidiary, SUNS SPV LLC, refinanced by way of amendment its senior secured revolving credit facility with Citibank NA as administrative agent.

Commitments under the credit facility are $200 million and may be expanded up to $600 million under its accordion feature.

The amendment, among other things, allows for greater investment flexibility and extends the final maturity date to June 1, 2023, according to an 8-K filing with the Securities and Exchange Commission.

Interest remains at Libor plus 200 basis points with no Libor floor.

Borrowing under the credit facility remains subject to leverage restrictions.

The company completed the amendment on June 1.

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

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