Fifth Street Locks $32MM of SBIC Debentures
Fifth Street Finance announced that Fifth Street Mezzanine Partners V, its second SBIC subsidiary, had the pricing fixed on $32 million of its outstanding debentures at a rate of 2.351% per annum for ten years.
As a result, the total debentures outstanding in connection with both of Fifth Street’s SBIC licenses increased to $182 million with a blended coupon of 3.355%. The SBIC Subsidiary has $43 million of available debenture capacity remaining out of the $75 million of debentures permitted.
Fifth Street Finance 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.