FS Investment Corp.'s wholly owned special-purpose financing subsidiary Hamilton Street Funding LLC has entered into a revolving credit facility that will provide up to $150 million in permitted borrowings during a four-year revolving period.
The five-year credit facility has an accordion option that would allow lenders to increase the commitments by an additional $50 million to $200 million. The facility bears interest at a rate per annum equal to LIBOR for a three-month interest period plus a spread of 2.50%.
FS Investment will use the proceeds from the facility to retire its other outstanding debt and that of its wholly owned subsidiaries.
The credit facility was entered into with HSBC Bank USA NA as administrative agent and U.S. Bank NA as collateral agent, account bank and custodian.