Fifth Street Expands, Extends Maturity of Wells Fargo Facility
Fifth Street Finance Corp. announced that it has received an additional $50 million commitment under its credit facility with Wells Fargo Bank, increasing the size of the facility from $100 million to $150 million. The accordion feature has been increased by $100 million and now allows for potential future expansion up to a total of $250 million.
In addition, the amended facility now has a four-year maturity, extending the maturity date of the previous three-year facility to April 25, 2016. Pricing on the amended facility remains at LIBOR plus 2.75% per annum, with no LIBOR floor.
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.
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