Fifth Street to price $25-par notes due 2028; price talk 6.125%-6.25%

By Stephanie N. Rotondo

Phoenix, March 27 - Fifth Street Finance Corp. is planning an offering of at least $50 million $25-par senior notes due April 30, 2028, according to a prospectus filed with the Securities and Exchange Commission on Wednesday.

Price talk is 6.125% to 6.25%, a trader said.

Keefe, Bruyette & Woods, Deutsche Bank Securities Inc., Raymond James & Associates Inc. and RBC Capital Markets LLC are the joint bookrunners. Barclays is the lead manager.

JMP Securities Inc., Stern Agee and Wunderlich Securities Inc. are the co-managers.

Interest will be payable on the 30th day of January, April, July and October, beginning April 30. The notes become redeemable on or after April 30, 2018 at par plus accrued interest.

The company intends to list the new notes on the Nasdaq Global Select Market under the ticker symbol "FSCFL."

Proceeds will be used to pay down one or more credit facilities.

Fifth Street is a White Plains, N.Y.-based externally managed, closed-end, non-diversified management investment company.

© 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.