ING Capital Leads Fifth Street Finance Facility Expansion
Fifth Street Finance announced an incremental commitment from an existing lender to its syndicated bank credit facility led by ING Capital. As a result, the committed facility size increased by $10 million to $680 million.
The facility includes 16 lenders with an accordion feature allowing for potential future expansion up to $800 million. The final maturity of the facility remains August 6, 2018.
“We continue to grow the size of our syndicated credit facility, which provides us with flexible capital to provide custom-tailored financing solutions by partnering with private equity sponsors, including the ability to commit to larger transactions up to $250 million. The diverse group of lenders in our syndicated credit facility includes leading investment banks, commercial banks and regional banks, and is an important component of our low-cost capital structure,” said Leonard M. Tannenbaum, FSC’s CEO.