Solar Capital Ltd. issued $125 million of 4.2% unsecured notes due Dec. 15, 2024, and $75 million of 4.375% unsecured notes due Dec. 15, 2026.

The two tranches of unsecured notes were issued in a private placement.

Interest payments on the notes will be made semiannually. Solar Capital intends to initially use proceeds from the issuance to reduce outstanding borrowings on its revolving credit facility before making more portfolio company investments. The company also intends to use the proceeds for general corporate purposes.