Fifth Street plans to conduct $50 million public offering of stock

Morgan Stanley, Deutsche Bank, UBS, Barclays are the joint bookrunners

By Devika Patel

Knoxville, Tenn., March 31 - Fifth Street Senior Floating Rate Corp. will conduct a $50 million public sale of common stock, according to a preliminary prospectus supplement filed Monday with the Securities and Exchange Commission. The deal will have a $9 million 30-day greenshoe.

Morgan Stanley, Deutsche Bank Securities, UBS Investment Bank and Barclays are the joint bookrunning managers; RBC Capital Markets and Oppenheimer & Co. are the co-managers.

Proceeds will be used to make investments and for general corporate purposes, including working capital requirements.

Fifth Street is a specialty finance company that provides financing solutions in the form of floating-rate senior secured loans to small and mid-sized companies, primarily in connection with investments by private equity sponsors. It is based in White Plains, N.Y.

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