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Stock Market & Financial Investment News

News Breaks
February 28, 2014
06:21 EDTSUNSSolar Senior downgraded to Market Perform from Outperform at JMP Securities
JMP Securities downgraded Solar Senior Capital citing the Q2 shortfall.
News For SUNS From The Last 14 Days
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September 10, 2014
09:04 EDTSUNSSolar Senior Capital forms first lien loan program in partnership with Voya
Solar Senior Capital Ltd. (SUNS) announces that it has entered into a joint venture agreement to create a First Lien Loan Program with Voya Investment Management. Voya acts as the investment advisor for several wholly owned insurance subsidiaries of Voya Financial, Inc. (VOYA). The joint venture is expected to invest primarily in senior secured term loans to middle market companies predominantly owned by private equity sponsors or entrepreneurs, consistent with Solar Seniorís core origination and underwriting mandate. Solar Senior and Voya have committed to provide $50M and $7.25M, respectively, of capital to the joint venture. In addition, FLLP intends to seek third party financing that is expected to allow the joint venture to utilize leverage up to a ratio of approximately 2.0x debt-to-equity once the portfolio is sufficiently ramped. Solar Senior and Voya expect to begin funding the portfolio with new investments prior to the end of 2014.

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