FSFR Fifth Str SR Floating Rate Corp

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________

 

FORM 8-K

 

Current Report Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 11, 2014 (August 11, 2014)

 

Fifth Street Senior Floating Rate Corp.

(Exact name of registrant as specified in its charter) 

 

Delaware	001-35999	61-1713295
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

 

777 West Putnam Avenue, 3^rd Floor

Greenwich, CT 06830

(Address of principal executive offices and zip code)

 

Registrant’s telephone number, including area code: (203) 681-3600

 

Not Applicable

______________________________________________
Former name or former address, if changed since last report

 

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 2.02. Results of Operations and Financial Condition.

 

Fifth Street Senior Floating Rate Corp. (the “Company”) announced today preliminary estimated net investment income (“NII”) per share of $0.28 for the quarter ended June 30, 2014. This compares with NII of $0.27 per share for the quarter ended March 31, 2014. The Company expects its net asset value (“NAV”) per share as of June 30, 2014 to be $15.13, which remains unchanged from its last reported NAV per share of $15.13 as of March 31, 2014. The final NAV per share is subject to the determination of the Company’s Board of Directors.

 

Item 9.01. Financial Statements and Exhibits

 

(d) Exhibits

 

Exhibit No.	Description
99.1	Press Release dated August 11, 2014

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

Date:  August 11, 2014	FIFTH STREET SENIOR FLOATING RATE CORP.
	By:	/s/ David H. Harrison
		Name:  David H. Harrison Title:    Chief Compliance Officer

  

 

 

 

Fifth Street Senior Floating Rate Corp. Announces Preliminary Estimated NII per Share and NAV per Share for the Quarter Ended June 30, 2014

 

GREENWICH, CT, August 11, 2014 -- Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) (“FSFR”) announced today preliminary estimated net investment income (“NII”) per share of $0.28 for the quarter ended June 30, 2014. This compares with NII of $0.27 per share for the quarter ended March 31, 2014. FSFR expects its net asset value (“NAV”) per share as of June 30, 2014 to be $15.13, which remains unchanged from its last reported NAV per share of $15.13 as of March 31, 2014. The final NAV per share is subject to the determination of FSFR’s Board of Directors.

 

About Fifth Street Senior Floating Rate Corp.

 

Fifth Street Senior Floating Rate Corp. is a specialty finance company that provides financing solutions in the form of floating rate senior secured loans to mid-sized companies, primarily in connection with investments by private equity sponsors.  FSFR’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments while seeking to preserve its capital.  The company has elected to be regulated as a business development company and is externally managed by Fifth Street Management LLC, an SEC-registered investment adviser and leading alternative asset manager with $5 billion in assets under management.  With a track record of more than 16 years, Fifth Street's nationally recognized platform has the ability to hold loans up to $150 million, commit up to $250 million and structure and syndicate transactions up to $500 million.  Fifth Street received the 2014 ACG New York Champion’s Award for “Senior Lender Firm of the Year” and was named both 2013 “Lender Firm of the Year” by The M&A Advisor and “Lender of the Year” by Mergers & Acquisitions. FSFR’s website can be found at fsfr.fifthstreetfinance.com. Information contained on its website is not incorporated by reference into this press release and such information should not be considered part of this press release.

 

 

Forward-Looking Statements

 

This press release contains certain forward-looking statements, including statements with regard to the future performance of the company. Words such as “believes,” “expects,” “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, and these factors are identified from time to time in the company’s filings with the Securities and Exchange Commission. Although FSFR has based the above estimates and expectations on its evaluation of available financial and other information to date, including preliminary valuations of its investments by the investment team of its investment adviser, its estimates and expectations are subject to change, possibly materially, due to a variety of factors including a change in its estimate of the June 30, 2014 fair value of FSFR’s illiquid investments, which comprises substantially all of its total assets as of June 30, 2014, the completion of the closing process for the preparation of its quarterly consolidated financial statements, which includes input from independent third party valuation firms, recommendation as to fair value of investments by the Audit Committee of FSFR’s Board of Directors, review of its consolidated financial statements by its independent registered public accounting firm and determination of fair value of investments by its Board of Directors. FSFR undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 

CONTACT:

 

Investor Contact:
Dean Choksi, Executive Director of Finance & Head of Investor Relations
(203) 681-3722
dchoksi@fifthstreetfinance.com

 

Media Contact:
Nick Rust
Prosek Partners
(212) 279-3115 ext. 252
pro-fifthstreet@prosek.com