Fifth Street Finance Corp. Closes
$9.0 Million Senior Secured Debt
Facility, Increasing Fifth Street's
Total Deal Originations to $118.0
Million for the Quarter
WHITE PLAINS, N.Y., Dec. 7, 2010
(GLOBE NEWSWIRE) -- Fifth Street
Finance Corp. (NYSE:FSC) ("Fifth
Street") announced today that it
closed a $9.0 million senior secured
debt facility to support the
acquisition of an email marketing
services company, an add-on
investment to the existing $11.0
million senior secured credit
facility with Mansell Group, Inc.
The investment is backed by a
private equity sponsor.
The $9.0 million add-on was funded
at closing. The terms of the
additional investment include a $5.0
million increase in the Term Loan A
and a $4.0 million increase in the
Term Loan B. This is a first lien
facility with a scheduled maturity
in
April 2015.
Total deal originations so far in
Fifth Street's first fiscal quarter
of 2011 stand at $118.0 million,
$99.5 million of which were funded
at close.
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 in connection
with investments by private equity
sponsors.
Fifth Street Finance Corp.'s
investment objective is to maximize
its portfolio's total return by
generating current income from its
debt investments and capital
appreciation from its
equity investments.
The Fifth Street Finance Corp. logo
is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5525
<http://www.globenewswire.com/newsroom/ctr?d=208455&l=6&u=http%3A%2F%2Fwww.globenewswire.com%2Fnewsroom%2Fprs%2F%3Fpkgid%3D5525>
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.
CONTACT:
Fifth
Street Finance Corp.
Stacey Thorne, Executive
Director, Investor Relations
(914) 286-6811
stacey@fifthstreetfinance.com
