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Fifth Street Finance Corp. Releases Its Newsletter For September 2012

We used proceeds from the offering to pay down debt, with the intention to redraw on our credit facilities later in the fall to fund our growing pipeline. We are also exploring an improved credit facility which would potentially be larger, lower cost and have more favorable advance rates than our existing facility. The equity raise should provide us with enough capacity to fund a potential record December quarter in gross originations.After the recent capital raise and $103 million of quarter-to-date originations ($92 million funded at close), Fifth Street has approximately $400 million of available investment capacity until it reaches its target leverage. We expect to increase leverage closer to our target of 0.6x debt/equity (excluding SBA debentures) heading into calendar year 2013. 

Planning for the Future

Fifth Street continues to grow in contrast to the broader financial services industry. We are fully staffed to handle higher volumes and potential growth in upcoming quarters. We continue to hire selectively as we build deeper teams and add expertise across the organization. For example, we are seeking to hire an upper-middle market east coast originator to work on sourcing and funding larger deals as our balance sheet hold size and syndication platform grow. 

We also have been expanding and deepening our sponsor relationships in the Midwest. Our Chicago team, led by Sunny Khorana, has closed 17 deals totaling approximately $310 million so far this fiscal year. Among those deals was our first transaction with Waud Capital Partners, a leading Midwest middle market sponsor who chose Fifth Street for a large one-stop solution. We look forward to growing our presence in this important market.

Sincerely,

The Fifth Street Team

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 portfolio's total return by generating current income from its debt investments and capital appreciation from its equity investments.

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