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Solar Capital files for $1B mixed shelf

Solar Capital Ltd. filed a prospectus to offer certain securities of up to $1 billion from time to time.

Securities include common shares, preferred shares, debt securities, subscription rights and warrants. The preferred shares, debt securities, subscription rights and warrants may be convertible into common shares.

The company plans to use net proceeds for general corporate purposes, which may include investing in debt or equity securities consistent with its investment objective, repayment of outstanding indebtedness and acquisitions. The company said it continues to look for, review and fund new investments.

The company added that it will take three to six months to invest the net proceeds, depending on the availability of attractive opportunities and market conditions. Pending such uses, Solar Capital will invest the proceeds primarily in cash, cash equivalents, and U.S. government securities and other high-quality debt investments that mature in one year or less from the date of investment.