Form T-1

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

 

 

STATEMENT OF ELIGIBILITY UNDER

THE TRUST INDENTURE ACT OF 1939 OF A

CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

x Check if an Application to Determine Eligibility of a Trustee Pursuant to Section 305(b)(2)

 

 

U.S. BANK NATIONAL ASSOCIATION

(Exact name of Trustee as specified in its charter)

 

 

31-0841368

I.R.S. Employer Identification No.

 

800 Nicollet Mall

Minneapolis, Minnesota

 

55402

(Address of principal executive offices)   (Zip Code)

Gagendra Hiralal

U.S. Bank National Association

100 Wall Street, Suite 1600

New York, NY 10005

(212) 361-3834

(Name, address and telephone number of agent for service)

 

 

SOLAR CAPITAL LTD.

(Issuer with respect to the Securities)

 

 

 

Maryland   26-1381340

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

 

500 Park Avenue

New York, NY

 

10022

(Address of Principal Executive Offices)   (Zip Code)

 

 

Debt Securities

(Title of the Indenture Securities)

 

 

 


FORM T-1

 

Item 1. GENERAL INFORMATION. Furnish the following information as to the Trustee.

 

  a) Name and address of each examining or supervising authority to which it is subject.

            Comptroller of the Currency

            Washington, D.C.

 

  b) Whether it is authorized to exercise corporate trust powers.

            Yes

 

Item 2. AFFILIATIONS WITH OBLIGOR. If the obligor is an affiliate of the Trustee, describe each such affiliation.

            None

 

Items 3-15 Items 3-15 are not applicable because to the best of the Trustee’s knowledge, the obligor is not in default under any Indenture for which the Trustee acts as Trustee.

 

Item 16. LIST OF EXHIBITS: List below all exhibits filed as a part of this statement of eligibility and qualification.

 

  1. A copy of the Articles of Association of the Trustee.*

 

  2. A copy of the certificate of authority of the Trustee to commence business.**

 

  3. A copy of the certificate of authority of the Trustee to exercise corporate trust powers.**

 

  4. A copy of the existing bylaws of the Trustee.**

 

  5. A copy of each Indenture referred to in Item 4. Not applicable.

 

  6. The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939, attached as Exhibit 6.

 

  7. Report of Condition of the Trustee as of June 30, 2012 published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7.

 

* Incorporated by reference to Exhibit 25.1 to Amendment No. 2 to registration statement on S-4, Registration Number 333-128217 filed on November 15, 2005.
** Incorporated by reference to Exhibit 25.1 to registration statement on S-4, Registration Number 333-166527 filed on May 5, 2010.


SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the Trustee, U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of New York, State of New York on the 6th of November, 2012.

 

By:  

/s/ Gagendra Hiralal

  Gagendra Hiralal
  Assistant Vice President


Exhibit 6

CONSENT

In accordance with Section 321(b) of the Trust Indenture Act of 1939, the undersigned, U.S. BANK NATIONAL ASSOCIATION hereby consents that reports of examination of the undersigned by Federal, State, Territorial or District authorities may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.

Dated: November 6, 2012

 

By:  

/s/ Gagendra Hiralal

  Gagendra Hiralal
  Assistant Vice President


Exhibit 7

U.S. Bank National Association

Statement of Financial Condition

As of 6/30/2012

($000’s)

 

     6/30/2012  

Assets

  

Cash and Balances Due From Depository Institutions

   $ 15,399,893   

Securities

     72,720,824   

Federal Funds

     75,584   

Loans & Lease Financing Receivables

     211,830,660   

Fixed Assets

     5,286,747   

Intangible Assets

     12,383,063   

Other Assets

     25,125,941   
  

 

 

 

Total Assets

   $ 342,822,712   

Liabilities

  

Deposits

   $ 245,043,009   

Fed Funds

     6,587,299   

Treasury Demand Notes

     0   

Trading Liabilities

     937,898   

Other Borrowed Money

     35,563,317   

Acceptances

     0   

Subordinated Notes and Debentures

     5,829,815   

Other Liabilities

     11,359,611   
  

 

 

 

Total Liabilities

   $ 305,320,949   

Equity

  

Minority Interest in Subsidiaries

   $ 2,015,054   

Common and Preferred Stock

     18,200   

Surplus

     14,133,323   

Undivided Profits

     21,335,186   
  

 

 

 

Total Equity Capital

   $ 37,501,763   

Total Liabilities and Equity Capital

   $ 342,822,712   

 

7