Daily News: October 6, 2014

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.”