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Prospect News home > News index > List of issuers F > Headlines for Fifth Street Finance Corp. > News item |
Fitch rates Fifth Street convertibles BBB-
Fitch Ratings said it assigned a rating of BBB- to Fifth Street Finance Corp.'s $150 million of 5.375% convertible notes due 2016.
The outlook is stable.
Proceeds are expected to be used to reduce outstanding borrowings and for general corporate purposes, which may include funding investments in its investment backlog and pipeline.
The unsecured convertible notes, which mature on April 1, 2016, have a coupon of 5.375% and a conversion premium of approximately 10%.
Fifth Street has a BBB- long-term issuer default rating and BBB- senior secured debt, the agency added.
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