Solar Capital Reduces Pricing on Revolving Credit Facility
Solar Capital Ltd. announced that its indirect wholly owned subsidiary, Solar Capital Funding II LLC, amended its $100 million revolving credit facility maturing in December 2015 provided by Wells Fargo Bank. The stated interest rate on the facility was reduced to LIBOR plus 2.75% from the current borrowing rate of LIBOR plus 3.00% and will continue to have no LIBOR floor requirement. In addition, the amendment reduces certain non-usage fees.
“We value our strong relationship with Wells Fargo and appreciate its continued support and confidence in Solar Capital” commented Michael Gross, chairman and CEO of Solar Capital Ltd. “We remain committed to continuously reevaluating and improving our funding profile in order to optimize our capital structure.”
Solar Capital Ltd. is a closed-end investment company that invests primarily in leveraged, middle-market companies in the form of senior secured loans, mezzanine loans and equity securities.
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