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8-K - FORM 8-K - Oaktree Specialty Lending Corp | w84394e8vk.htm |
Exhibit 99.1
FIFTH STREET FINANCE CORP. CLOSES SEVEN-YEAR, $200 MILLION CREDIT FACILITY WITH SUMITOMO
MITSUI BANKING CORPORATION
WHITE PLAINS, N.Y., September 20, 2011 Fifth Street Finance Corp. (Fifth Street) (NYSE: FSC)
today announced the closing of a seven-year, $200 million credit facility with its long-term
partner, Sumitomo Mitsui Banking Corporation (SMBC), an affiliate of Sumitomo Mitsui Financial
Group, Inc. (NYSE: SMFG). The credit facility, which bears an interest rate of LIBOR plus 2.25% per
annum, will be secured by first lien assets and includes an option for a one-year extension.
The credit facility continues the long-standing partnership between Fifth Street and SMBC, which is
an investor in, and an advisory board member of, a Fifth Street affiliated fund.
Solidifying our partnership with a world-class lending partner like Sumitomo validates our
business model and growth proposition, said Leonard Tannenbaum, Chief Executive Officer of Fifth
Street, adding, By expanding Fifth Streets lending capacity, we are better positioned to meet the
financing solutions of our sponsors than ever before.
About Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation and its group companies offer a broad range of financial
services centered on banking. They are also engaged in the leasing, securities, credit card,
investment, mortgage securitization, venture capital and other credit related businesses.
About Fifth Street Finance Corp.
Fifth Street Finance Corp. is a specialty finance company that lends to and invests in small and
mid-sized companies, primarily in connection with investments by private equity sponsors. Fifth
Street Finance Corp.s investment objective is to maximize its portfolios total return by
generating current income from its debt investments and capital appreciation from its equity
investments.
Forward-Looking Statements
This press release may contain certain forward-looking statements, including statements with regard
to the future performance of Fifth Street Finance Corp. Words such as believes, expects,
projects, anticipates, and future or similar expressions are intended to identify
forward-looking statements. These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. Certain factors could cause actual
results to differ materially from those projected in these forward-looking statements, and these
factors are identified from time to time in Fifth Street Finance Corp.s filings with the
Securities and Exchange Commission. Fifth Street Finance Corp. undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.
Exhibit 99.1
Investor Contact:
|
Stacey Thorne | Media Contact: | Brendan McManus | |||||
Fifth Street Finance Corp. | CJP Communications | |||||||
914-286-6811 | 203-254-1300 ext. 216 | |||||||
stacey@fifthstreetfinance.com | CJP-FifthStreet@CJPCom.com |