Fifth Street Finance increases credit facility to $705 million

By Tali Rackner

Norfolk, Va., Sept. 30 – Fifth Street Finance Corp. announced a $25 million increase to its syndicated bank credit facility maturing on Aug. 6, 2018. The size of the committed facility led by ING Capital LLC is now $705 million, according to a press release.

The facility now includes 17 lenders with an accordion feature allowing for future expansion up to $800 million.

"The continued expansion of our syndicated credit facility provides us with ample capital to deliver custom-tailored financing solutions to our private equity sponsor clients, including the ability to commit to larger transactions up to $250 million,” chief executive officer Leonard M. Tannenbaum 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.

© 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.