Fifth Street Finance increases credit facility to $680 million

By Marisa Wong

Madison, Wis., Aug. 15 – Fifth Street Finance Corp. announced a $10 million increase to its syndicated bank credit facility. The size of the committed facility led by ING Capital LLC is now $680 million, according to a press release.

The facility includes 16 lenders with an accordion feature allowing for future expansion up to $800 million.

The final maturity of the facility remains Aug. 6, 2018.

“We continue to grow the size of our syndicated credit facility, which provides us with flexible capital to provide custom-tailored financing solutions by partnering with private equity sponsors, including the ability to commit to larger transactions up to $250 million,” Leonard M. Tannenbaum, Fifth Street’s chief executive officer, said in the release.

Fifth Street is a White Plains, N.Y.-based specialty finance company that originates and invests in one-stop financings and first-lien, second-lien and mezzanine debt and equity co-investments for small and mid-sized companies.

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