Broad Street Funding extends revolver maturity to December 2015

By Toni Weeks

San Luis Obispo, Calif., Dec. 22 – FS Investment Corp. wholly owned financing subsidiary Broad Street Funding LLC amended its revolving credit facility on Dec. 18 with Deutsche Bank AG, New York Branch as administrative agent and lender to extend the maturity date to Dec. 18, 2015, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also provides for a commitment fee of 150 basis points payable on unused amounts. The fee will be triggered after five consecutive business days of Broad Street utilizing less than 33% of the maximum commitment. With the amendment, Broad Street may reduce the maximum commitment under the revolver.

FS paid fees to Deutsche Bank in connection with the amendment, the 8-K noted.

FSIC is a Philadelphia-based business development company focused on investing in the debt securities of private U.S. companies.

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