Daily News: October 24, 2013

Fifth Street Finance Expands Syndicated Credit Facility to $605MM

Fifth Street Finance announced that three new lenders joined its syndicated bank credit facility led by ING Capital, and one existing lender increased its commitment.

The additional commitments increase the facility size by $125 million to $605 million from $480 million. The facility now includes 14 lenders with an accordion feature allowing for potential future expansion up to $800 million. The final maturity of the facility remains August 6, 2018.

“This upsize further enhances our ability to commit up to $250 million in support of our private equity sponsor clients. Combined with our Wells Fargo and Sumitomo facilities, as well as available debenture capacity through our SBIC subsidiaries, FSC has access to over $1 billion of debt capital,” commented FSC’s CEO, Leonard M. Tannenbaum.