ING Leads Fifth Street Syndicated Facility Expansion
Fifth Street Finance announced additional commitments from one new and one existing lender to its syndicated credit facility led by ING Capital.
As a result, the committed facility size increased by $25 million to $705 million. The facility now includes 17 lenders with an accordion feature allowing for potential future expansion up to $800 million. The final maturity of the facility remains August 6, 2018.
“The continued expansion of our syndicated credit facility provides us with ample capital to deliver custom-tailored financing solutions to our private equity sponsor clients, including the ability to commit to larger transactions up to $250 million,” said Leonard M. Tannenbaum, FSC’s CEO, adding, “Our flexible capital structure is characterized by two investment grade ratings, a diverse group of lenders in our syndicated credit facility and a significant amount of longer-term fixed rate debt.”