Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Oaktree Specialty Lending Corp | w83651e8vk.htm |
| EX-10.1 - EX-10.1 - Oaktree Specialty Lending Corp | w83651exv10w1.htm |
| EX-10.2 - EX-10.2 - Oaktree Specialty Lending Corp | w83651exv10w2.htm |
Exhibit 99.1
Fifth Street Finance Corp. Lowers Pricing and Expands ING Credit Facility
WHITE PLAINS, N.Y., July 14, 2011 — Fifth Street Finance Corp. (NYSE:FSC) (“Fifth Street”)
announced today the successful amendment of the terms of its three-year syndicated credit facility
led by ING Capital LLC. The facility’s interest rate has been reduced to LIBOR plus 3.0% per
annum, with no LIBOR floor, when the facility is drawn more than 35%. Otherwise, the interest rate
will be LIBOR plus 3.25% per annum, with no LIBOR floor. These rates—which represent improved
pricing over the previous interest rate of LIBOR plus 3.5% per annum—are both contingent upon Fifth Street
maintaining its recently-issued investment grade credit rating.
Besides lowering the interest rate, the ING-led facility has increased by $15 million—increasing
the size of the facility from $215 million to $230 million. The maturity date remains February 22,
2014 while the facility’s accordion feature now allows for future expansion up to a total of $350
million.
About Fifth Street Finance Corp.
Fifth Street Finance Corp. is a specialty finance company that lends to and invests in small and
mid-sized companies, primarily in connection with investments by private equity sponsors. Fifth
Street Finance Corp.’s investment objective is to maximize its portfolio’s total return by
generating current income from its debt investments and capital appreciation from its equity
investments.
About ING Capital LLC
ING Capital LLC is a US subsidiary of ING Bank NV which is part of the global financial services
company ING Group. ING Bank NV has 60,000 employees serving its clients through its extensive
global network in the world’s major financial services markets. ING has built a leading position in
corporate finance, including lending, and mergers & acquisitions.
Forward-Looking Statements
This press release may contain certain forward-looking statements, including statements with regard
to the future performance of Fifth Street Finance Corp. Words such as “believes,” “expects,”
“projects,” “anticipates,” and “future” or similar expressions are intended to identify
forward-looking statements. These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. Certain factors could cause actual
results to differ materially from those projected in these forward-looking statements, and these
factors are identified from time to time in Fifth Street Finance Corp.’s filings with the
Securities and Exchange Commission. Fifth Street Finance Corp. undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE: Fifth Street Finance Corp.
CONTACT:
Fifth Street Contact:
|
Fifth Street Finance Corp. | |
| Stacey Thorne, Executive Director, Investor Relations | ||
| (914) 286-6811 | ||
| stacey@fifthstreetfinance.com | ||
ING Deal Contact:
|
ING Capital LLC | |
| Patrick Frisch, Managing Director | ||
| (646) 424-6912 | ||
| Patrick.frisch@americas.ing.com |