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 17, 2010

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

500 Park Avenue, 5^th 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))

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.

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.