WHITE PLAINS, N.Y., March 27, 2013 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp. (Nasdaq:FSC) ("Fifth Street") today announced that it priced a public offering of $75 million in aggregate principal amount of its 6.125% senior unsecured notes due 2028 (the "Notes"). The Notes will mature on April 30, 2028, and may be redeemed in whole or in part at any time or from time to time at Fifth Street's option on or after April 30, 2018. The Notes will bear interest at a rate of 6.125% per year payable quarterly on January 30, April 30, July 30 and October 30, of each year, beginning April 30, 2013. Fifth Street has also granted the underwriters a 30-day option to purchase up to an additional $11.25 million in aggregate principal amount of Notes to cover over-allotments, if any.
The closing of the transaction is subject to customary closing conditions and the Notes are expected to be delivered on or about April 4, 2013. Fifth Street intends to apply to list the Notes on the NASDAQ Global Select Market under the trading symbol "FSCFL," and if the application is approved, expects trading in the Notes to begin within 30 days from the original issue date.
Keefe, Bruyette & Woods, Inc., Deutsche Bank Securities Inc., Raymond James & Associates, Inc. and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. Barclays Capital Inc. is acting as lead manager for the offering. JMP Securities LLC, Oppenheimer & Co. Inc., Sterne, Agee & Leach, Inc. and Wunderlich Securities, Inc. are acting as co-managers for the offering.Fifth Street intends to use the net proceeds from this offering to repay debt outstanding under one or more of its credit facilities. However, through re-borrowing under its credit facilities, it intends to make investments in small and mid-sized companies in accordance with its investment objective and strategies described in the prospectus supplement and accompanying prospectus.
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