Solar Capital Ltd. Adds New Lender: Increases Borrowing Capacity To $540 Million
Solar Capital Ltd. (NASDAQ: SLRC) today announced that a new lender has
committed $50 million to its senior secured revolving credit facility,
bringing total commitments under the agreement to $405 million.
Solar Capital Ltd. (NASDAQ: SLRC) today announced that a new lender has committed $50 million to its senior secured revolving credit facility, bringing total commitments under the agreement to $405 million. The facility matures in February of 2013 and can be expanded to $600 million. “The addition of this new commitment further diversifies our lending sources and brings our total debt capacity to $540 million. With our sizeable amount of available capital, we believe we are well positioned to take advantage of the current market environment to fuel portfolio growth," said Michael Gross, Chairman and Chief Executive Officer of Solar Capital Ltd. ABOUT SOLAR CAPITAL LTD. Solar Capital Ltd. is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company invests primarily in leveraged, middle market companies in the form of senior secured loans, mezzanine loans, and equity securities. FORWARD-LOOKING STATEMENTS Statements included herein may constitute “forward-looking statements,” which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. Solar Capital Ltd. undertakes no duty to update any forward-looking statements made herein.