Solar Senior Capital (SUNS) IPO Opens Lower

February 25, 2011 10:00 AM EST
The IPO for Solar Senior Capital Ltd. (Nasdaq: SUNS) is open for trading. Shares are trading at $19.70 after pricing 8,000,000 shares at $20.00, in-line with the expected pricing.

The lead manager for the initial public offering is RBC Capital Markets.

Solar Senior Capital Ltd. is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade.

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