Daily News: August 19, 2015

Fifth Street Amends $125MM Sumitomo Mitsui Revolver


Fifth Street Finance finalized an amendment to extend the maturity and reduce pricing on its existing $125 million revolving credit facility with Sumitomo Mitsui Banking Corporation (SMBC).

The reinvestment period was extended by one year to September 16, 2017 and the maturity date was extended by one year to September 16, 2021. Additionally, the stated interest rate on the facility was changed from LIBOR plus 2.25% per annum to LIBOR plus 2.00% or LIBOR plus 2.25% per annum, based on actual usage levels.

“Our revolving credit facility with SMBC provides us with long-term, flexible capital and allows FSC to continue providing debt financing in support of our private equity clients. We have built a strong relationship with SMBC and appreciate its continued support in helping us to optimize our capital structure and lower the cost of our debt,” stated Todd G. Owens, FSC’s chief executive officer.