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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)
Comments (3)
  • sourdo
    , contributor
    Comments (229) | Send Message
     
    Rather nasty thing to see this morning. Do I buy more? Hold? aye,yi,yi....

     

    sourdo....
    24 Jul 2013, 10:09 AM Reply Like
  • cymbalta
    , contributor
    Comments (225) | Send Message
     
    You took the words right out of my mouth!
    24 Jul 2013, 12:34 PM Reply Like
  • AZKID44
    , contributor
    Comments (74) | Send Message
     
    @ Sourdo

     

    Me too ... it took me by surprise. I think I will see how it plays out over the next few days.
    24 Jul 2013, 09:19 PM Reply Like
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