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Fifth Street Asset Management Inc. Closes Five-Year, $176 Million Syndicated Senior Unsecured Revolving Credit Facility

GREENWICH, CT, Nov. 6, 2014 (GLOBE NEWSWIRE) -- Fifth Street Asset Management Inc. (NASDAQ: FSAM) ("FSAM") today announced the closing of a $176 million, five-year syndicated senior unsecured revolving credit facility, jointly led by Morgan Stanley Senior Funding, Inc. ("Morgan Stanley") and Sumitomo Mitsui Banking Corporation ("SMBC"). The credit facility was undrawn at close and has a $100 million accordion feature for total capacity of up to $276 million. Borrowings under the credit facility will initially accrue interest at LIBOR plus 200 basis points.

The credit facility was extended to Fifth Street Holdings L.P. in conjunction with FSAM's recent initial public offering to, among other uses, facilitate the growth of FSAM's existing business lines, provide seed capital to expand into complementary businesses and funds, pay operating expenses and cover working capital needs.

Morgan Stanley and SMBC acted as joint lead arrangers and joint book-runners on the transaction, with SMBC also acting as administrative agent. The other members of the syndicate group include J.P. Morgan Chase Bank, N.A., Royal Bank of Canada, Credit Suisse AG, Cayman Islands Branch and East West Bank.

"We are excited about the closing of our $176 million unsecured credit facility in connection with FSAM's initial public offering. The attractive terms of the facility should provide FSAM with the necessary financial flexibility to support continued growth," said Leonard M. Tannenbaum, Chief Executive Officer of FSAM, adding, "We appreciate the support of all six lenders in the credit facility and view their participation as a testament to the strength of FSAM's platform."

About Fifth Street Asset Management Inc.

Fifth Street Asset Management Inc. (NASDAQ:FSAM) is a rapidly growing credit-focused asset manager. The firm has nearly $6 billion of assets under management across two publicly-traded business development companies, Fifth Street Finance Corp. (NASDAQ:FSC) and Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR), as well as multiple private investment vehicles. The Fifth Street platform provides innovative and customized financing solutions to small and mid-sized businesses across the capital structure through complementary investment vehicles and co-investment capabilities. With a 16-year track record focused on disciplined credit investing across multiple economic cycles, Fifth Street is led by a seasoned management team that has issued billions of dollars in public equity, private capital and public debt securities. Fifth Street's national origination strategy, proven track record and established platform are supported by approximately 90 professionals across locations in Greenwich, Chicago, Palo Alto and Dallas. For more information, please visit fsam.fifthstreetfinance.com.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the company's current views with respect to, among other things, future events and financial performance. Words such as "believes," "expects," "will," "estimates," "projects," "anticipates," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements. New risks and uncertainties arise over time, and it is not possible for the company to predict those events or how they may affect it. Therefore, you should not place undue reliance on these forward-looking statements. The company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

CONTACT: Investor Contact: Robyn Friedman, Vice President, Investor Relations (203) 681-3720 IR-FSAM@fifthstreetfinance.com Media Contact: Nick Rust Prosek Partners (212) 279-3115 ext. 252 pro-fifthstreet@prosek.comSource: Fifth Street Asset Management