Fifth Street Finance ups facility to $605 million, adds three lenders

By Susanna Moon

Chicago, Oct. 23 - Fifth Street Finance Corp. said three new lenders joined its syndicated bank credit facility led by ING Capital LLC, and an existing lender upsized its commitment, bringing the total size to $605 million.

The added commitments raise the facility by $125 million from $480 million, according to a company press release.

The facility also includes an accordion that allows upsizing the facility up to $800 million.

The maturity of the facility remains Aug. 6, 2018, and there are now 14 lenders in the syndicate.

"This upsize further enhances our ability to commit up to $250 million in support of our private equity sponsor clients," the company's chief executive officer, Leonard M. Tannenbaum, said in a press release.

"Combined with our Wells Fargo and Sumitomo facilities, as well as available debenture capacity through our SBIC subsidiaries, [Fifth Street Finance] has access to over $1 billion of debt capital."

Fifth Street is a specialty finance company based in White Plains, N.Y.

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