SEC Filing Summary: Form 8-K
Business Context and Reporting Period
Company: Fifth Street Finance Corp. (Note: Request metadata listed "Oaktree Specialty Lending Corp," but the filing text identifies the registrant as Fifth Street Finance Corp.)
Date of Report: June 20, 2013
Event: Entry into a Material Definitive Agreement regarding a secured credit facility.
Key Financial Metrics
This filing does not provide comprehensive financial statements, revenue, profit, cash flow, or liquidity metrics. The only specific financial metric disclosed is a change in borrowing costs:
- Interest Rate Adjustment: The interest rate on the secured credit facility with Wells Fargo Bank, N.A. was reduced to LIBOR plus 2.50% per annum.
Material Changes
On June 20, 2013, Fifth Street Finance Corp. amended its secured credit facility with Wells Fargo Bank, N.A. (the "Wells Fargo facility"). The primary material change was the reduction of the interest rate to LIBOR plus 2.50% per annum. The filing incorporates by reference the full text of Amendment No. 6 to the Amended and Restated Loan and Servicing Agreement for complete terms.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or specific risk factors beyond the standard disclosure that the description of the amendment is qualified by reference to the full agreement text. No unusual items or contingencies were reported in this specific 8-K.
Investor Verification Checklist
- Verify the full terms of Amendment No. 6 to the Loan and Servicing Agreement (Exhibit 10.1) to understand any covenants or conditions attached to the rate reduction.
- Confirm the total outstanding balance of the Wells Fargo facility to assess the impact of the rate reduction on future interest expenses.
- Review the Press Release dated June 24, 2013 (Exhibit 99.1) for additional context on the company's capital strategy.