FS Energy’s Foxfields unit enters five-year $125 million term loan

By Wendy Van Sickle

Columbus, Ohio, Nov. 12 – FS Energy and Power Fund financing subsidiary Foxfields Funding LLC entered into a five-year $125 million senior secured multiple-draw term loan facility on Nov. 6 with Fortress Credit Co LLC as administrative agent, according to an 8-K filed with the Securities and Exchange Commission.

The facility may be drawn under for a year after closing. There is an option for the company to expand the facility by an additional $75 million for the first two years.

Borrowings will bear interest at Libor plus 500 basis points, with a 0.75% Libor floor.

At closing, the company borrowed $40 million.

The facility matures Nov. 6, 2020.

FS Energy and Power Fund is a Philadelphia-based investment company that invests primarily in income-oriented securities of privately held energy- and power-related 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.