FS Energy secures new $195 million term loan, $390 million revolver

By Sarah Lizee

Olympia, Wash., Aug. 16 – FS Energy and Power Fund obtained a $195 million term loan facility and $390 million revolving credit facility, according to a press release.

The company announced on Thursday that it raised over $1 billion of debt financing, which also includes the company’s offering of $500 million of 7˝% senior secured notes due 2023.

The new facilities are priced at Libor plus 275 basis points and mature in February 2023.

Both the term loan and revolving credit facilities can be increased to more than $850 million through an accordion feature.

The new term loan and revolver replace the company’s existing credit facilities.

“This will reduce the weighted cost of capital and create additional opportunities to expand the portfolio,” FS Energy said in the release.

JPMorgan Chase Bank, NA, SG Americas Securities, LLC and BMO Capital Markets are the joint lead arrangers and joint bookrunners for the new credit facilities.

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

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