Fifth Street Finance Corp. announced the successful amendment of the terms of its $230 million syndicated credit facility led by ING Capital. The amended facility now has a four-year maturity, extending the maturity date of the previous three-year facility from February 22, 2014 to February 29, 2016. The amended facility has a one-year term-out period beginning on February 27, 2015.

The amended facility’s accordion feature now allows for future expansion up to a total of $450 million if certain conditions are satisfied. Pricing on the amended facility remains at LIBOR plus 3.0% per annum, with no floor, when the facility is drawn more than 35%. Otherwise, the interest rate is LIBOR plus 3.25% per annum, with no LIBOR floor.

“We are pleased to have amended our ING-led credit facility at this new duration and to allow for future expansion. This commitment allows us to continue to lever our existing portfolio, including our second lien investments, and to support our private equity sponsor relationships in the middle market. Together with our Wells Fargo and Sumitomo Mitsui credit facilities, and the leverage our SBIC subsidiary provides, we believe Fifth Street has one of the most diversified and flexible financing platforms in our industry,” commented Fifth Street’s president, Bernard D. Berman.

Fifth Street Finance Corp. 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.

ING Capital LLC is a U.S. subsidiary of ING Bank NV, which is part of the global financial services company ING Group.