Solar Capital ups secured revolving credit facility to $320 million

By Sara Rosenberg

New York, May 17 - Solar Capital Ltd. increased its senior secured revolving credit facility to $320 million from $270 million, according to an 8-K filed with the Securities and Exchange Commission on Monday.

The increase was done by adding a new lender to the syndicate.

The company is in talks with other lenders to further increase total commitments under the facility, which may be expanded up to $600 million.

Pricing on the revolver is Libor plus 325 basis points.

Solar Capital is a New York-based closed-end investment company that invests primarily in leveraged, middle-market companies in the form of senior secured loans, mezzanine loans and equity securities.

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