UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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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 21, 2012

SOLAR CAPITAL LTD.
(Exact name of registrant as specified in its charter)

500 Park Avenue
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))

Item 5.02     Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

The Board of Directors of Solar Capital Ltd. (the "Company") accepted the resignation of Nicholas Radesca, the Company’s Chief Financial Officer and Secretary, from his executive officer positions. Mr. Radesca’s resignation is effective as of May 18, 2012.  

On May 17, 2012, the Board of Directors of the Company appointed Richard L. Peteka to replace Mr. Radesca as the Company's Chief Financial Officer and Secretary.  Mr. Peteka’s appointment is effective as of May 18, 2012.

ABOUT RICHARD L. PETEKA:

Mr. Peteka, age 50, served as the Chief Financial Officer and Treasurer of Apollo Investment Corporation from June 2004 until February 2012. Prior to that, Mr. Peteka was Chief Financial Officer and Treasurer of various closed-end and open-end registered investment companies for Citigroup Asset Management. He joined Citigroup Asset Management as a Director in July 1999.

Item 9.01     Financial Statements and Exhibits.

(a)  Not applicable.

(b)  Not applicable.

(c)  Not applicable.

(d)  Exhibits.

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.

Exhibit 99.1

Solar Capital Announces Appointment of Richard L. Peteka as Chief Financial Officer

NEW YORK--(BUSINESS WIRE)--May 21, 2012--Solar Capital Ltd. (NASDAQ: SLRC) today announced the appointment effective May 18, 2012 of Richard L. Peteka as Chief Financial Officer, succeeding Nicholas Radesca who resigned from his employment with Solar Capital Ltd.

“We are very pleased to welcome Rich, a top veteran of the BDC industry,” said Michael Gross, Chairman and CEO of Solar Capital Ltd. “Based upon my prior experience working with Rich, I’m confident that he will be a strong addition to our executive management team.”

Mr. Peteka most recently served as Chief Financial Officer and Treasurer of Apollo Investment Corporation from June 2004 through February 2012. Prior to joining Apollo, Mr. Peteka was Chief Financial Officer and Treasurer of various closed-end and open-end registered investment companies for Citigroup Asset Management.

The Company’s affiliate, Solar Senior Capital Ltd. (NASDAQ: SUNS), has also appointed Mr. Peteka to serve as its Chief Financial Officer.

“We thank Nick Radesca for his service to the company,” said Bruce Spohler, Chief Operating Officer of Solar Capital Ltd. “We wish him every success in the future.”

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 from time to time in our filings with the Securities and Exchange Commission. Solar Capital Ltd. undertakes no duty to update any forward-looking statements made herein.

CONTACT:
Solar Capital Ltd.
Richard Peteka, 212-993-1660