Fifth Street Senior Floating Rate announced that it closed a $100 million credit facility with Natixis, New York branch.

Pricing on the new facility is set at the applicable commercial paper rate plus 1.9% per annum. The interest rate would remain the same for any additional future commitments from Natixis that are funded through its commercial paper conduit.

To the extent new lenders participate in the facility or Natixis funds incremental commitments outside of its commercial paper conduit, pricing on those commitments would be three-month LIBOR plus 2.0% per annum. The facility has an 18-month reinvestment period and a final maturity date of November 1, 2021. DBRS currently rates the facility AA.

“Our new facility and partnership with Natixis provides FSFR with flexible and low-cost capital to fund its growing pipeline and increase leverage towards its target of 0.85x debt-to-equity,” stated Bernard D. Berman, FSFR president.

Natixis is the corporate, investment and financial services arm of Groupe BPCE banking group in France.