Solar Capital’s Board Approves Reduced Asset Coverage Requirement; Provides Flexibility to Expand Specialty Finance Platform; Lowers Base Management Fee over 1.0x Debt-to-Equity
SLR Investment Corp. - Closed End Fund (SLRC)
Last slr investment corp. - closed end fund earnings: 2/20 04:01 pm
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US:NASDAQ Investor Relations:
solarcapltd.com/companyoverview
Company Research
Source: GlobeNewswire
NEW YORK, Aug. 06, 2018 (GLOBE NEWSWIRE) -- Solar Capital Ltd. (NASDAQ:SLRC) (the “Company” or “Solar Capital”), an externally managed business development company (“BDC”), today announced that effective August 2, 2018, its Board of Directors (the ”Board”), including all Independent Directors, and based on the recommendation of its investment advisor, Solar Capital Partners (“SCP”), approved the reduction in the asset coverage requirement under of the Investment Company Act of 1940 as allowed under the Small Business Credit Availability Act (“SBCAA”). As a result, effective August 2, 2019, the Company’s asset coverage requirements will be reduced from 200% to 150%. The Company will target a range of 0.90x to 1.25x debt-to-equity, operating at a substantial cushion to the regulatory limit. In order to potentially accelerate the adoption, the Board authorized the submission of a proposal for voting shareholders to approve the application of the modified asset coverage requirements se
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Sec Filings
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