FSEP amends loan, providing for $75 million additional availability

By Sara Rosenberg

New York, Aug. 30 - FSEP Term Funding LLC amended its credit facility, increasing the amount available for borrowing to $175 million from $100 million, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The company may borrow $50 million under a tranche A revolver priced at Libor plus 160 basis points, $50 million under a tranche B revolver priced at Libor plus 185 bps or up to $75 million under a tranche C term loan priced at Libor plus 185 bps.

The tow revolver includes a non-usage fee, and the term loan C has a non-usage fee that kicks in 60 days after Aug. 28.

The amendment was completed on Aug. 28.

Deutsche Bank is the administrative agent on the deal.

FSEP is a wholly owned financing subsidiary of FS Energy and Power Fund, a Philadelphia-based business development company that focuses on the energy and power industry.

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