Daily News: August 20, 2014

Fifth Street Closes Public Offering to Repay Debt

Fifth Street Senior Floating Rate announced it closed a public offering of 22,800,000 shares of its common stock at a public offering price of $12.91 per share for total gross proceeds of approximately $294.3 million.

FSFR said it intends to use the net proceeds from the offering to repay debt outstanding under its credit facility and to make investments in small and mid-sized companies in accordance with its investment objective and strategies described in the prospectus supplement and accompanying prospectus and may use such funds for general corporate purposes.

Greenwich, CT-based Fifth Street Senior Floating Rate is a specialty finance company that provides financing solutions in the form of floating rate senior secured loans to mid-sized companies, primarily in connection with investments by private equity sponsors.