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EX-10.1 - SIXTH AMENDMENT TO CREDIT AGREEMENT - FS Investment CORPex10-1.htm
 

 

UNITED STATES 

SECURITIES AND EXCHANGE COMMISSION 

WASHINGTON, D.C. 20549

__________________________

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934 

 

Date of Report (Date of earliest event reported): December 20, 2013

 

FS Investment Corporation

 

(Exact name of Registrant as specified in its charter)

 

  

Maryland
(State or other jurisdiction
of incorporation)
814-00757
(Commission
File Number)
26-1630040
(I.R.S. Employer
Identification No.)
     

Cira Centre

2929 Arch Street, Suite 675

Philadelphia, Pennsylvania

(Address of principal executive offices)

 

19104 

(Zip Code) 

 

   

      Registrant’s telephone number, including area code: (215) 495-1150

 

 None

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

£Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
£Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

£Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

£Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 

 

 

Item 1.01  Entry into a Material Definitive Agreement.

 

On December 20, 2013, Broad Street Funding LLC (“Broad Street”), a wholly-owned financing subsidiary of FS Investment Corporation (“FSIC”), and Deutsche Bank AG, New York Branch (“Deutsche Bank”), as administrative agent and lender, entered into an amendment (the “Amendment”) to Broad Street’s revolving credit facility, which was originally entered into on March 10, 2010 and was amended and restated on January 28, 2011 (the “Credit Facility”).

 

The Amendment extended the maturity date of the Credit Facility to December 20, 2014, reduced the maximum commitment thereunder from $240,000,000 to $125,000,000, gave Broad Street and the lender the right to reduce the maximum commitment further on 60 days’ notice, eliminated the commitment fee payable by Broad Street on unused amounts under the Credit Facility and made certain adjustments to the collateral valuation schedule and margin requirements included therein. FSIC paid certain fees to Deutsche Bank in connection with the amendment of the Credit Facility.

 

No other material terms of the Credit Facility changed in connection with the Amendment.

 

The foregoing description of the Amendment as set forth in this Item 1.01 is a summary only and is qualified in all respects by the provisions of the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated by reference herein.

 

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

The information in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

 

Item 9.01. Financial Statements and Exhibits.

 

(d)      Exhibits

  

EXHIBIT
NUMBER 

  DESCRIPTION
10.1   Sixth Amendment to Credit Agreement, dated as of December 20, 2013, by and between Broad Street Funding LLC and Deutsche Bank AG, New York Branch, as administrative agent and lender.

 

Forward-Looking Statements

 

This Current Report on Form 8-K may contain certain forward-looking statements, including statements with regard to the future performance and operation of FSIC.  Words such as “believes,” “expects,” “projects” 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 some of these factors are enumerated in the filings FSIC makes with the Securities and Exchange Commission.  FSIC undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 

 
 

 

 

 SIGNATURE

 

 Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

   
   
  FS Investment Corporation
   
   
   
Date: December 24, 2013   By: /s/ Michael C. Forman
      Michael C. Forman
      Chief Executive Officer
         

 

 
 

 

 

 

EXHIBIT INDEX

EXHIBIT
NUMBER 

  DESCRIPTION
10.1   Sixth Amendment to Credit Agreement, dated as of December 20, 2013, by and between Broad Street Funding LLC and Deutsche Bank AG, New York Branch, as administrative agent and lender.