FS Investment’s Juniata River unit expands facility to $850 million

By Marisa Wong

Morgantown, W.Va., Oct. 13 – Juniata River LLC, a wholly owned subsidiary of FS Investment Corp. II, amended its loan agreement dated Nov. 14, 2014 to increase the facility, extend the maturity and adjust pricing, according to an 8-K filing with the Securities and Exchange Commission.

The amendment, completed on Oct. 11, provides for an immediate upsize of $550 million, resulting in a total facility amount of $850 million.

The amendment also extends the maturity date of the facility to Oct. 11, 2020 and increases the margin for Libor loans to 268.33 basis points.

JPMorgan Chase Bank, NA is the lender and administrative agent, with Citibank, NA as collateral agent and securities intermediary and Virtus Group, LP as collateral administrator.

Also on Oct. 11 and in connection with the loan amendment, FS Investment and J.P. Morgan Chase Bank, NA, London Branch effected a redemption of the class A notes issued by FS Investment’s wholly owned subsidiary, Lehigh River LLC. The notes were originally issued in February 2013 to Cobbs Creek LLC, a wholly owned financing subsidiary of FS Investment, and later sold to JPMorgan London.

Immediately after redemption of the class A notes, Lehigh River was merged with and into Juniata River, with Juniata River surviving the merger as a wholly owned subsidiary of FS Investment.

FS Investment is a business development company based in Philadelphia.

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