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8-K - FORM 8-K - Oaktree Specialty Lending Corp | d448794d8k.htm |
EX-10.1 - AMENDMENT NO. 4 TO AMENDED RESTATED SENIOR SECURED REVOLVING CREDIT AGREEMENT - Oaktree Specialty Lending Corp | d448794dex101.htm |
Exhibit 99.1
Fifth Street Finance Corp. Expands its Syndicated Bank Credit Facility
to $380 Million and Lowers Pricing to LIBOR + 2.75% per Annum
WHITE PLAINS, N.Y., December 3, 2012 Fifth Street Finance Corp. (Nasdaq:FSC) (Fifth Street) announced today the successful amendment of the terms of its syndicated bank credit facility led by ING Capital LLC.
The amended facility includes an increase in size to $380 million from $230 million and an increase in the accordion feature to $600 million from $300 million, allowing for potential future expansion. The amended facility includes 10 banks, with five new banks joining the syndicate group. Pricing on the amended facility is reduced to LIBOR plus 2.75% per annum, with no LIBOR floor. The amended facility has a four-year maturity, extending the maturity date from February 29, 2016 to November 30, 2016.
The amended facility also includes higher advance rates across multiple types of investments and greater flexibility on eligible collateral.
We are pleased to have amended our syndicated bank credit facility led by ING to increase its capacity over 65% and at a lower cost. The changes to the facility reflect the growth in Fifth Streets platform, the quality of our portfolio and our investment grade credit ratings, commented Fifth Streets President, Bernard D. Berman.
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 portfolios 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 an indirect U.S. subsidiary of ING Bank NV, which is part of the global financial services company ING Group. ING Bank NV has 67,000 employees serving its clients through its extensive global network in the worlds major financial services markets. ING Capital has built a leading position in corporate lending. The Investment Industry Finance (IIF) group at ING Capital offers a broad range of structured finance solutions to its clients active in the Investment Industry, including BDCs.
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.
CONTACTS:
Fifth Street Finance Corp. Investor Contact:
Dean Choksi, Senior VP of Finance & Head of Investor Relations
Fifth Street Finance Corp.
(914) 286-6855
dchoksi@fifthstreetfinance.com
Fifth Street Finance Corp. Media Contact:
Steve Bodakowski
Prosek Partners
(203) 254-1300 ext. 141
prosek-fifthstreet@Prosek.com
ING Deal Contact:
Patrick Frisch, Managing Director
(646) 424-6912
patrick.frisch@americas.ing.com