Business Context and Reporting Period
Company: Solar Capital Ltd.
Filing Type: Form 8-K (Current Report)
Report Date: December 20, 2013
Event Date: December 16, 2013
The filing reports the creation of a direct financial obligation through the expansion of the Company's senior secured credit facility.
Key Financial Metrics
This filing does not provide revenue, profit, cash flow, margin, or liquidity metrics. It focuses exclusively on debt facility capacity.
- New Lender Commitment: $50 million
- Total Facility Commitments: $540 million
- Facility Maturity: June 2018
- Accordion Expansion Capacity: Up to $800 million
Material Changes
On December 16, 2013, the Company added a new lender to its senior secured credit facility. This action increased the total committed revolving credit from the prior level to $540 million.
Outlook and Management Commentary
The filing indicates the facility includes an accordion feature, allowing the Company to expand total commitments up to $800 million if needed. No specific guidance, risks, or unusual items were disclosed in this report.
Investor Verification Checklist
- Verify the identity of the new lender added to the facility.
- Confirm the current utilization rate of the $540 million facility.
- Review the terms and conditions associated with the accordion feature expansion to $800 million.
- Check for any covenants or interest rate changes associated with the new $50 million commitment.