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Wednesday, Jul 24
Solar Capital (SLRC) cashes in two legacy investments, agreeing to sell for $150M its second...
Solar Capital (SLRC) cashes in two legacy investments, agreeing to sell for $150M its second lien and preferred investments in DS Waters of America. Additionally, the firm's investment in Midcap Financial Intermediated Holdings is being redeemed at a premium to par for gross proceeds of $87M. The $237M will likely be used to pay off debt. Net income in Q2 is expected at $0.41-$0.43 and NAV/share is expected to be $22.35-$22.40. Accordingly, the quarterly dividend is being cut to $0.40. (PR)