Solar Capital revolver gets new commitments, lifted to $405 million

By Marisa Wong

Madison, Wis., Dec. 19 - Solar Capital Ltd. announced that a new lender has committed $50 million to its senior secured revolving credit facility, bringing total commitments to $405 million.

The facility, which is due in February 2013, can be expanded from its original $200 million to $600 million.

"The addition of this new commitment further diversifies our lending sources and brings our total debt capacity to $540 million. With our sizable amount of available capital, we believe we are well positioned to take advantage of the current market environment to fuel portfolio growth," said Michael Gross, chairman and chief executive officer of Solar, in a news release.

Solar Senior 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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