Fifth Street Finance amends loan, revising size, pricing and maturity

By Sara Rosenberg

New York, Dec. 3 - Fifth Street Finance Corp. amended its credit facility, increasing the size to $380 million from $230 million and reducing pricing to Libor plus 275 basis points with no Libor floor, according to a news release.

Additionally, the maturity was pushed out to Nov. 30, 2016 from Feb. 29, 2016 and the accordion feature was lifted to $600 million from $300 million.

The amended facility also includes higher advance rates across multiple types of investments and greater flexibility on eligible collateral, the released added.

ING Capital LLC is the lead bank on the deal.

With the amendment, five new banks joined the syndicate group.

Fifth Street Finance 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.

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