FS Energy & Power Fund subsidiary lifts facility to $240 million

By Jennifer Chiou

New York, Oct. 18 - FS Energy & Power Fund financing subsidiary FSEP Term Funding, LLC entered into an amendment to its credit facility, raising the commitments by $65 million to $240 million, according to an 8-K filed with the Securities and Exchange Commission.

Deutsche Bank AG, New York Branch acted as administrative agent.

The filing stated that under the third amendment, tranche D borrowings in an amount up to $65 million are available as a term commitment.

Borrowings under the tranche D bear interest at Libor plus 185 basis points.

Beginning 45 days after Oct. 18, FSEP Funding will be subject to a non-usage fee under the tranche D commitment. It paid a set-up fee and incurred other customary costs and expenses, the 8-K noted.

The fund is sponsored by Philadelphia-based Franklin Square Capital Partners.

© 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.