Solar Capital Ltd. Closes New $35 Million Senior Secured Term Loan

Solar Capital Ltd. (NASDAQ: SLRC) today announced the closing of a new $35 million Senior Secured Term Loan with a new lender. The Term Loan, which expires in September 2013, bears interest at a rate of LIBOR plus 3.25% per annum and has terms substantially similar to the Company’s existing revolving credit facility.

“Not only does this term loan increase our borrowing capacity, it also adds diversity to our capital structure. Since the IPO, we have expanded our borrowing capacity to $390 million and we are very pleased with the continued support of the lender community," said Michael Gross, Chairman and Chief Executive Officer of Solar Capital Ltd.