Solar Capital prices USD100m public offering of senior notes due 2042
Nov 09, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Investment company Solar Capital Ltd SLRC has priced an underwritten public offering of USD100m in aggregate principal amount of 6.75% senior unsecured notes due 2042, it stated on Thursday.
These notes will bear interest at a rate of 6.75% per year, which is payable quarterly on 15 February, 15 May, 15 August and 15 November of each year, starting on 15 February 2013. The notes are set to mature on 15 November 2042 and may be redeemed in whole or in part at any time on or after 15 November 2017.
Net proceeds of the offering will be used by the company to temporarily reduce then-outstanding obligations under its revolving credit facilities.
The offering is expected to close on 16 November 2012, subject to customary closing conditions. The notes are planned to be listed on the New York Stock Exchange.
Joint book-running managers are Citigroup Global Markets Inc, Morgan Stanley & Co LLC, Wells Fargo Securities LLC, Deutsche Bank Securities Inc and RBC Capital Markets LLC.
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