Fifth Street cuts Sumitomo revolver to $125 million, extends maturity

By Marisa Wong

Madison, Wis., Nov. 5 - Fifth Street Finance Corp. amended its revolving credit facility with Sumitomo Mitsui Banking Corp. as administrative agent, collateral agent and lender to reduce the size to $125 million from $200 million, according to an 8-K filing with the Securities and Exchange Commission.

The reduction was balanced in part by an increase of Sumitomo's commitment under the company's syndicated credit facility with ING Capital LLC as administrative agent by $45 million on Oct. 18, the filing noted.

The amendment also extends the period during which the company may make borrowings under the Sumitomo facility to Sept. 16, 2016 from Sept. 16, 2014 and the maturity date to Sept. 16, 2020 from Sept. 16, 2018.

Fifth Street entered into the amendment to its loan and servicing agreement for the revolver on Oct. 30.

The specialty finance company is based in White Plains, N.Y.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.