Fifth Street gets $200 million seven-year facility via Sumitomo Mitsui

By Susanna Moon

Chicago, Sept. 20 - Fifth Street Finance Corp. said it closed a $200 million seven-year credit facility with an option for a one-year extension with its long-term partner Sumitomo Mitsui Banking Corp.

Interest will be Libor plus 225 basis points, and the loan will be secured by first-lien assets.

The credit facility continues the long-standing partnership between Fifth Street and SMBC, which is an investor in, and an advisory board member of, a Fifth Street-affiliated fund, according to a company press release.

Sumitomo Mitsui Banking is an affiliate of Sumitomo Mitsui Financial Group, Inc.

Fifth Street Finance is a White Plains, N.Y.-based specialty finance company that lends to and invests in small and mid-sized companies, primarily in connection with investments by private equity sponsors.

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