PHILADELPHIA, Dec. 1, 2016 /PRNewswire/ -- FS Investment
Corporation (NYSE: FSIC) announced that it has priced an
underwritten public offering of an additional $80 million in aggregate principal amount of its
4.250% unsecured notes due 2020 pursuant to a reopening of such
notes. The newly issued notes are priced at a premium to par
at an issue price of 100.531%, plus accrued and unpaid interest
from July 15, 2016 up to, but not
including, the date of delivery of such newly issued notes. The
notes will mature on January 15, 2020
and may be redeemed in whole or in part at FSIC's option at any
time at par plus a "make-whole" premium, if applicable. The
offering is expected to close on December 8,
2016, subject to customary closing conditions.
Wells Fargo Securities, LLC is acting as underwriter for this
offering.
FSIC expects to use the net proceeds of this offering to repay
outstanding indebtedness.
Other Information
Investors are advised to carefully consider the investment
objectives, risks, charges and expenses of FSIC before investing.
The pricing term sheet dated December 1,
2016, the preliminary prospectus supplement dated
December 1, 2016, and the
accompanying prospectus dated June 3,
2016, each of which has been filed with the U.S. Securities
and Exchange Commission, contain this and other information about
FSIC and should be read carefully before investing.
The information in the pricing term sheet, the preliminary
prospectus supplement, the accompanying prospectus and this press
release is not complete and may be changed. The pricing term sheet,
the preliminary prospectus supplement, the accompanying prospectus
and this press release are not offers to sell any securities of
FSIC and are not soliciting an offer to buy such securities in any
state or jurisdiction where such offer and sale is not
permitted.
A shelf registration statement relating to these securities
is on file with and has been declared effective by the U.S.
Securities and Exchange Commission. The offering may be made only
by means of a preliminary prospectus supplement and an accompanying
prospectus, copies of which may be obtained from Wells Fargo
Securities, LLC at 608 2nd Avenue South, Minneapolis, MN 55402, Attn: WFS Customer
Service, or via phone at (800) 645-3751, or via email at
wfscustomerservice@wellsfargo.com. Investors may also
obtain these documents for free by visiting EDGAR on the U.S.
Securities and Exchange Commission's website at
www.sec.gov.
About FS Investment Corporation
FSIC is a publicly traded business development company (BDC)
focused on providing customized credit solutions to private middle
market U.S. companies. FSIC seeks to invest primarily in the senior
secured debt and, to a lesser extent, the subordinated debt of
private middle market companies to achieve the best risk-adjusted
returns for its investors. In connection with its debt investments,
FSIC may receive equity interests such as warrants or options.
FSIC is advised by FB Income Advisor, LLC, an affiliate of FS
Investments, and is sub-advised by GSO / Blackstone Debt Funds
Management LLC, an affiliate of GSO Capital Partners LP (GSO). GSO,
with approximately $89.3 billion in
assets under management as of September 30,
2016, is the credit platform of Blackstone, one of the
world's leading managers of alternative investments.
About FS Investments
FS Investments is a leading asset manager that designs
alternative investments to help institutional, advisory and
individual investors build better portfolios. Its solutions provide
access to alternative asset classes and top managers through a
spectrum of structures, including business development companies,
closed-end credit funds and operating companies. The firm is
dedicated to setting industry standards for investor-centric
service, education and transparency.
FS Investments was founded in 2007 as Franklin Square Capital
Partners. It is headquartered in Philadelphia with offices in Orlando and Washington, DC. The firm currently manages six
funds with over $18 billion in assets
under management as of September 30,
2016, and co-manages an operating company. Its affiliated
broker-dealer, FS Investment Solutions, LLC (member FINRA/SIPC),
distributes its offerings.
CONTACT INFORMATION:
Media:
FS Investments Media Team
215-495-1174
media@fsinvestments.com
Investors:
Dominic Mammarella
Director, Investor Relations
215-220-4280
dominic.mammarella@fsinvestments.com
About Blackstone and GSO Capital Partners
Blackstone is one of the world's leading investment firms.
Blackstone seeks to create positive economic impact and long-term
value for its investors, the companies it invests in, and the
communities in which it works. The firm does this by using
extraordinary people and flexible capital to help companies solve
problems. Blackstone's asset management businesses, with over
$355 billion in assets under
management, include investment vehicles focused on private equity,
real estate, public debt and equity, non-investment grade credit,
real assets and secondary funds, all on a global basis. Blackstone
also provides various financial advisory services, including
financial and strategic advisory, restructuring and reorganization
advisory and fund placement services.
GSO is the global credit and distressed investment platform of
Blackstone. With approximately $85
billion of assets under management, GSO is one of the
largest alternative managers in the world focused on the
leveraged-finance, or non-investment grade related, marketplace.
GSO seeks to generate attractive risk-adjusted returns in its
business by investing in a broad array of strategies including
mezzanine debt, distressed investing, leveraged loans and other
special-situation strategies. Its funds are major providers of
credit for small and middle-market companies and it also advances
rescue financing to help distressed companies.
Forward-Looking Statements
This press release may contain certain forward-looking
statements, including statements with regard to future events or
the future performance or operations of FSIC. Words such as
"believes," "expects," "projects," 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. Factors that could
cause actual results to differ materially include changes in the
economy, risks associated with possible disruption in FSIC's
operations or the economy generally due to terrorism or natural
disasters, future changes in laws or regulations and conditions in
FSIC's operating area, and the price at which shares of FSIC's
common stock trade on the New York Stock Exchange. Some of these
factors are enumerated in the filings FSIC makes with the U.S.
Securities and Exchange Commission. FSIC undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
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SOURCE FS Investment Corporation