FSEP amends loan to extend maturity, consolidate four tranches

By Jennifer Chiou

New York, June 25 - FSEP Term Funding LLC amended its credit facility, extending the maturity date to June 24, 2014 and consolidating the existing four tranches of commitments under the facility into a single tranche with an aggregate principal amount of $240 million, according to an 8-K filed with the Securities and Exchange Commission.

Deutsche Bank AG, New York Branch is the administrative agent.

Pricing under the loan is Libor plus 180 basis points. Beginning on June 24, there will be a non-usage fee for commitments that have not been borrowed.

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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