Solar Senior Capital Amends Credit Facility, Extends Maturity
Solar Senior Capital amended its $200 million senior secured revolving credit facility, provided by multiple lenders. The stated interest rate of the facility was reduced to LIBOR plus 2% from LIBOR plus 2.25%, and the facility will continue to have no LIBOR floor requirement. In addition, the amendment reduces certain non-usage fees. It also allows for greater flexibility and extends the final maturity to October 2017.
“We value our strong relationship with our lenders and their continued support and confidence in Solar Senior Capital,” chairman and CEO of Solar Senior Capital, Michael Gross said. “We are pleased with the enhanced terms of our credit facility, which strengthen our ability to optimize our portfolio of senior secured loans.”
Solar Senior Capital is a closed-end investment company that primarily focuses on leveraged, middle-market companies in the form of senior secured loans.