This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Fifth Street Finance Corp. Announces the Closing of a Three-Year Credit Facility With Wells Fargo Bank, National Association 2009-11-17 07:02 ET - News Release WHITE PLAINS, N.Y., Nov. 17, 2009 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. (NYSE:FSC) ("Fifth Street") announced the closing of a three-year credit facility with Wells Fargo Bank, National Association ("Wells Fargo") on November 16, 2009 in the amount of $50 million with an accordion feature which allows for potential future expansion of the facility up to $100 million. The facility may be extended for up to two additional years upon the mutual consent of Wells Fargo and Fifth Street, and bears interest at a rate of LIBOR plus 4% per annum.
"With the closing of the three-year credit facility, we are pleased to have expanded our relationship with Wells Fargo, a book runner on our IPO and follow-on transactions," stated Leonard Tannenbaum, Fifth Street's President and Chief Executive Officer, adding that "our ability to access this capital will allow us to continue to grow our portfolio and take advantage of improving market conditions with a strong financial partner."
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