FS Investment III’s Dunlap unit increases revolver to $200 million

By Toni Weeks

San Luis Obispo, Calif., March 26 – FS Investment Corp. III wholly owned financing subsidiary Dunlap Funding LLC entered into a second amendment to its revolving credit facility on March 24 with Deutsche Bank AG, New York Branch as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment raised the principal amount of borrowings available by to $200 million from $150 million on a committed basis.

No other material terms of the facility changed in connection with the amendment.

The facility was originally arranged on Dec. 2 and then increased by $100 million, to $150 million, on March 2.

Borrowings bear interest at Libor plus 250 basis points.

Wells Fargo Bank, NA is the collateral agent and collateral custodian.

FS Investment is a business development company based in Philadelphia.

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