This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Fifth Street Finance Corp. Announces Quarter Ended December 31, 2012 Financial Results

Stocks in this article: FSC

During the quarter ended December 31, 2012, we closed $422.1 million of investments in 20 new and eight existing portfolio companies, and funded $398.8 million across new and existing portfolio companies. This compares to closing $95.3 million in seven new and one existing portfolio companies and funding $84.5 million during the quarter ended December 31, 2011. During the quarter ended December 31, 2012, we also received $49.8 million in connection with the exits of five of our debt investments, all of which were exited at par or above, and an additional $33.7 million in connection with partial sales of debt investments at an aggregate net price above par.

At December 31, 2012, our portfolio consisted of investments in 92 companies, 82 of which were completed in connection with investments by private equity sponsors and 10 of which were in private equity funds. At fair value, 96.4% of our portfolio consisted of debt investments (62.0% were first lien loans, 15.5% were second lien loans and the remainder were subordinated loans). Our average portfolio company debt investment size at fair value was $20.0 million at December 31, 2012, versus $19.7 million at September 30, 2012.

"We are pleased with our solid results for the December quarter, including a record $422 million in gross quarterly originations," stated our President, Bernard D. Berman, adding "We were well-positioned to handle the increased deal volume due to timely capital raises and the steps taken during the year to further institutionalize our platform, including achieving another important milestone by hiring our 50th employee."

Our weighted average yield on debt investments at December 31, 2012 was 11.99%, and included a cash component of 11.01%.

At December 31, 2012 and September 30, 2012, $1.08 billion and $869.9 million, respectively, of our debt investments at fair value were at floating rates, which represented 70.8% and 70.1%, respectively, of our total portfolio of debt investments at fair value.

2 of 7

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs