Fifth
Street Finance Corp.
Continues on a
Record-Setting Path as Total
Deal Originations Increase
to $230.3 Million for the
Quarter
WHITE PLAINS, N.Y., Dec. 27,
2010 (GLOBE NEWSWIRE) --
Fifth Street Finance Corp. (NYSE:FSC)
("Fifth Street") announced
today that it closed on the
following two add-on
transactions to existing
portfolio investments:
* Fifth Street invested
$13.8 million in a senior
secured credit facility for
Traffic Control & Safety
Corporation. The facility
consists of four tranches of
first lien term loans with a
scheduled maturity in
June 2012; and
* Fifth Street closed a
$5.3 million senior secured
debt facility to support the
acquisition of a pediatric
home health company, an
add-on investment to the
existing $24.3 million
senior secured credit
facility with Epic
Acquisition, Inc. The
investment is backed by a
private equity sponsor.
The $5.3 million add-on was
funded at closing. The terms
of the additional investment
include a $1.9 million
increase in the Term Loan A
and a $3.4 million increase
in the Term Loan B. This is
a first lien facility with a
scheduled maturity in
August 2015.
Following the two add-on
transactions, total deal
originations so far in Fifth
Street's first fiscal
quarter of 2011 stand at
$230.3 million, $201.8
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
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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