UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
Current
Report Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported):
May 17, 2010
SOLAR
CAPITAL LTD.
(Exact
name of registrant as specified in its charter)
|
Maryland |
814-00754 |
26-1381340 |
|
(State or other jurisdiction of incorporation) |
(Commission File Number)
|
(I.R.S Employer Identification No.)
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500 Park Avenue, 5th Floor
New York, NY 10022
(Address
of principal executive offices and zip code)
Registrant’s telephone number, including area code: (212)
993-1670
Check the
appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant |
On May 17, 2010, Solar Capital Ltd. (the “Company”) announced a $50 million increase in its senior secured revolving credit facility (the “Facility”) to $320 million, resulting from the addition of a new lender under the Facility. The Facility was amended and restated in February 2010 in connection with the Company’s initial public offering and expires in February of 2013. The original Facility commitment of $250 million was increased to $270 million in February 2010.
A copy of the press release announcing the increase in the Facility is attached as Exhibit 99.1 hereto.
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Item 9.01 |
Financial Statements and Exhibits. |
| (a) | Not applicable. | |
| (b) | Not applicable. | |
| (c) | Not applicable. | |
| (d) | Exhibits. | |
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Exhibit No. |
Description |
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| 99.1 | Press release dated May 17, 2010 | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date: |
May 17, 2010 |
SOLAR CAPITAL LTD. |
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By: |
/s/ Nicholas Radesca |
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Nicholas Radesca |
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Chief Financial Officer |
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Exhibit 99.1
Solar Capital Ltd. Increases Its Credit Facility to $320 Million; Adds New Lender
NEW YORK--(BUSINESS WIRE)--May 17, 2010--Solar Capital Ltd. (NASDAQ: SLRC) today announced a $50 million increase in its senior secured revolving credit facility to $320 million, resulting from the addition of a new lender. The facility was amended and restated in February 2010 in connection with the Company’s initial public offering and expires in February of 2013. The original facility commitment of $250 million was increased to $270 million in February. The Company is currently in talks with other lenders to further increase total commitments under the facility, which may be expanded up to $600 million.
ABOUT SOLAR CAPITAL LTD.
Solar Capital Ltd. is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company invests primarily in leveraged, middle market companies in the form of senior secured loans, mezzanine loans, and equity securities.
FORWARD-LOOKING STATEMENTS
Statements included herein may constitute “forward-looking statements,” which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described.
CONTACT:
Solar Capital Ltd.
Nick Radesca, 212-993-1660