Solar Capital Ltd. Announces Amendment to Its Credit Facility
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
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Source: GlobeNewswire
NEW YORK, Nov. 27, 2018 (GLOBE NEWSWIRE) -- Solar Capital Ltd. (NASDAQ: SLRC) (the “Company” or “Solar Capital”), today reported that it has completed an amendment to its senior secured credit facility (“Credit Facility”) to allow it to use the flexibility and incremental leverage provided by the Small Business Credit Availability Act (“SBCAA”). Solar Capital has amended its $530 million Credit Facility to reduce the asset coverage covenant from 200% to 150% and to make certain related changes to the borrowing base calculations. Pricing and other significant terms remain unchanged. Amendments to adopt the new 150% asset coverage requirement were not required for any of Solar Capital’s other debt agreements. “With this amendment, we have access to the incremental leverage allowed via the Reduced Asset Coverage Ratio, which Solar Capital’s board of directors and shareholders have previously authorized. The reduction of our asset coverage requirement provides increased flexibility to
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