Fifth Street Finance Corp. announced that its Board of Directors has appointed Patrick J. Dalton as Chief Executive Officer and elected him as a member of the Board of Directors, effective January 2, 2017. Dalton will succeed Todd G. Owens, who will...
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November 30, 2016, 07:48 AM
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Despite the varied strategies and risk appetites of business development companies (BDCs), one consistent trend across the sector is increasing leverage, according to a new report from Fitch Ratings on the 18 largest BDCs. Against the current market...
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April 26, 2016, 08:14 AM
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For the first time since the financial crisis, business development companies (BDCs) are facing a relatively significant near-term maturity wall, as $1.3 billion of convertible notes and other debt issued by Fitch-rated BDCs in 2011 and 2012 are...
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October 19, 2015, 07:50 AM
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Fifth Street Asset Management announced today that its affiliate, Fifth Street Management LLC, served as lead arranger and administrative agent for a $130 million one-stop financing facility in support of Webster Capital portfolio company, Behavior...
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October 15, 2015, 07:13 AM
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Fifth Street Finance Corp. announced that it has finalized an amendment to extend the maturity and reduce pricing on its existing $125 million revolving credit facility with Sumitomo Mitsui Banking Corporation ("SMBC"). The reinvestment period was...
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August 19, 2015, 07:52 AM
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Fifth Street Finance Corp. and Fifth Street Senior Floating Rate Corp. announced that the Boards of Directors for both FSC and FSFR have promoted Steven M. Noreika to Chief Financial Officer, replacing Richard A. Petrocelli, who will be leaving Fifth...
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July 13, 2015, 07:29 AM
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Fifth Street Finance Corp. announced that its portfolio company, HFG Holdings, LLC ("Healthcare Finance Group" or "HFG"), a specialty lender providing asset-backed lending and term loan products to various segments of the healthcare industry, has...
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June 23, 2015, 08:08 AM
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Fifth Street Finance Corp. announced that its Board of Directors has promoted Todd G. Owens to Chief Executive Officer from his former role as President. Owens joined Fifth Street in September 2014 and currently serves as President of FSC and is a...
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January 23, 2015, 07:21 AM
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Fifth Street Finance Corp. and Fifth Street Senior Floating Rate Corp. announced they have co-invested in a $195 million one-stop financing facility and an equity co-investment in conjunction with Veritas Capital's ("Veritas") acquisition of...
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October 02, 2014, 07:22 AM
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Fifth Street Management ("Fifth Street") announced the closing of Fifth Street Senior Loan Fund II, LLC ("SLF II"), a $305 million multi-tranche financing facility that will invest in middle-market senior secured loans. SLF II raised capital in...
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September 03, 2014, 07:13 AM
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Fifth Street Finance Corp. announced that it has formed a joint venture with Trinity Universal Insurance Company ("Trinity"), a subsidiary of Kemper Corporation, to create Senior Loan Fund JV I, LLC ("SLF JV I"). The joint venture is expected to...
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May 09, 2014, 07:46 AM
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Fifth Street Finance Corp. announced the addition of a new lender and an incremental commitment from an existing lender to its syndicated bank credit facility led by ING Capital LLC. As a result, the committed facility size increased by $20 million...
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May 07, 2014, 08:03 AM
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Home Care by Black Stone ("Black Stone"), based in Cincinnati, Ohio, is a regionally focused home care services company providing a full spectrum of skilled nursing and related home health services with highly trained home health and personal care...
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April 07, 2014, 07:43 AM
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Fifth Street Senior Floating Rate Corp. announced that it and GF Funding 2014, an entity controlled by the Glick family, have signed a Letter of Intent to form a strategic partnership to co-invest primarily in senior secured loans of middle-market...
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March 19, 2014, 08:03 AM
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Long's Drugs Incorporated ("Long's"), headquartered in Columbia, SC, is a retail and specialty pharmacy serving the SC, NC and GA markets. Founded in 1951 as a family-oriented business, Long's has maintained its tradition of providing excellent...
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March 05, 2014, 07:46 AM
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Fifth Street Management LLC announced that it has arranged a $47 million one-stop financing facility and a $2 million equity co-investment to support Moelis Capital Partners' ("MCP") acquisition of OmniSYS, LLC ("OmniSYS"). OmniSYS is a leader in...
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December 02, 2013, 07:59 AM
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Fifth Street Finance Corp. announced that three new lenders joined its syndicated bank credit facility led by ING Capital LLC, and one existing lender increased its commitment. The additional commitments increase the facility size by $125 million to...
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October 24, 2013, 07:06 AM
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Upwelling Capital Group announced it has hired Robert Rakowski as a principal of the firm. Rakowski brings more than 20 years of financial industry experience to support Upwelling’s core offerings of legacy portfolio solutions, asset management, and...
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October 17, 2013, 07:03 AM
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Fifth Street Management LLC announced that its venture lending group, Fifth Street Technology Partners, has worked with Silicon Valley Bank ("SVB") to refinance an existing credit facility and provide additional growth capital for HealthEdge Software...
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October 10, 2013, 07:23 AM
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Fifth Street Finance Corp. closed a public offering of 17,643,000 shares of its common stock, including 2,143,000 shares sold pursuant to the underwriters' option to purchase additional shares, at a public offering price of $10.31 per share for total...
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September 27, 2013, 07:26 AM
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Fifth Street Finance Corp. announced the formation of a new portfolio company in the aircraft leasing sector, First Star Aviation LLC. Pradeep Hathiramani, former Principal and Sector Head of Transportation at KKR Asset Management LLC ("KKR"), will...
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August 15, 2013, 07:23 AM
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Fifth Street Finance Corp. has successfully closed its portfolio company acquisition of Healthcare Finance Group (HFG). Fifth Street invested $114 million to effect the acquisition, financing the purchase with available liquidity, including operating...
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June 13, 2013, 08:06 AM
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Tighter risk spreads and continuing signs of over-heating in debt markets have led some U.S. business development companies (BDCs) to look for new growth opportunities. Several BDCs, which are largely cash flow lenders to middle-market companies...
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May 15, 2013, 07:53 AM
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Fifth Street Finance Corp. announced that it has entered into a definitive agreement to acquire Healthcare Finance Group, LLC ("HFG") as a portfolio company. HFG is a specialty lender providing asset-based lending and term loan products to the...
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May 08, 2013, 08:05 AM
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Fifth Street Finance Corp. announced that it closed $422 million of investments during the first fiscal quarter ended December 31, 2012. Of these investments, $391 million were funded at closing. Fifth Street also received $94 million due to...
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January 03, 2013, 07:10 AM
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