Fifth Street Finance announced the successful amendment of its syndicated bank credit facility led by ING Capital. The amended facility includes an increase in size to $480 million from $445 million and an increase in the accordion feature to $800 million from $600 million, allowing for potential future expansion.

Pricing on the amended facility is reduced by 50 basis points to LIBOR plus 2.25% per annum with no LIBOR floor. The maturity of the facility is extended to five years with a four-year revolving period and a final maturity one year later. The amended facility also includes more flexible terms regarding eligible collateral.

“Our amended facility includes a diverse group of lenders, and provides greater capacity and a more flexible structure that better enables Fifth Street Finance to expand its product offerings and grow its portfolio,” commented Fifth Street’s president, Bernard D. Berman.