Fifth Street Senior Floating Rate Corp. Files Investor Presentation
March 18 2016 - 12:30PM
FSFR Board Is Committed to Advancing the
Interests of All Stockholders
Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) (“FSFR” or
the “Company”) announced today that it has filed an investor
presentation with the Securities and Exchange Commission (“SEC”) in
connection with its upcoming Annual Meeting of Stockholders on
April 7, 2016.
The presentation is available on the SEC’s website at
www.sec.gov and at the “SEC Filings” section of the Company’s
website at http://fsfr.fifthstreetfinance.com
Highlights of the presentation include:
- FSFR’s Strong Platform to Deliver Stockholder
Value. The Company boasts a diversified portfolio of
floating rate, senior secured loans to sponsor-backed mid-size
companies. Additionally, FSFR ranks among the best in its
peer group on management fees, expense ratio, efficiency ratio and
manager fees versus dividends to stockholders.
- Fifth Street Management (“FSM”) is the Right External
Manager for FSFR. FSFR’s relationship with FSM, which is
the result of a robust annual FSFR Board review, benefits all FSFR
stockholders. FSM has a strong, 17-year track record of
creating value, with over $7 billion invested over its
history. The FSM relationship also allows FSFR to be a part
of a larger direct origination platform. Finally, it is vital
that FSM continues its role as manager, since it maintains an
active involvement with the credits in FSFR’s portfolio, of which a
vast majority have been originated through Fifth Street’s
relationships with private equity sponsors.
- FSFR’s Steady Board Leadership in Volatile
Markets. FSFR’s Board has seven highly qualified, engaged
directors with the diversity, experience and qualifications to
continue to face market volatility head on and provide effective
and independent oversight. FSFR’s nominees, including the
Company’s CEO, are essential members of the Board with valuable
perspectives and are committed to enhancing value for all FSFR
stockholders.
- Serious Risks for FSFR Stockholders of Supporting
Ironsides’ Nominees and Proposals. There are numerous
potential negative effects of terminating FSFR’s Investment Advisor
Agreement with FSM, including permanent dilution to NAV from a
potential sale, as Ironsides fails to point out.
Additionally, Ironsides’ nominees add little value to, and
have no additional expertise not already well represented on,
FSFR’s Board.
FSFR’s
stockholders are reminded to vote the WHITE proxy
card TODAY by telephone, by internet or by signing
and dating the WHITE proxy card and returning it
in the postage-paid envelope previously provided.
Your Vote Is Important, No Matter How Many Or How Few
Shares You Own! |
|
If you have questions about how to vote your shares, or need
additional assistance, |
please contact the firm assisting us in the solicitation of
proxies: |
|
INNISFREE M&A INCORPORATED |
Stockholders May Call: (877) 717-3923 (TOLL-FREE from the
U.S. and Canada) |
or +(412) 232-3651 (from other locations) |
Banks and Brokers May Call Collect: (212) 750-5833 |
|
REMEMBER: |
We urge you NOT to vote using any Green proxy card sent to you
by |
Ironsides, as doing so will revoke your vote on the
WHITE proxy card. |
|
If you have previously submitted a Green proxy card sent to you by
Ironsides, you can revoke that proxy and vote for your Board of
Directors’ nominees and on the other matters to be voted on at the
2016 Annual Meeting by voting on the WHITE proxy
card. |
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 a
subsidiary of Fifth Street Asset Management
Inc. (NASDAQ:FSAM), a nationally recognized credit-focused
asset manager with over $5 billion in assets under
management across multiple public and private vehicles. With a
track record of over 17 years, Fifth Street's platform has the
ability to hold loans up to $250 million and structure
and syndicate transactions up to $500 million. Fifth Street
received the 2015 ACG New York Champion's Award for "Lender Firm of
the Year," and other previously received accolades include the ACG
New York Champion's Award for "Senior Lender Firm of the Year,"
"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.
Forward-Looking Statements
Certain of the statements in this press release, and certain
oral statements made by our representatives from time to time, may
constitute forward-looking statements, because they relate to
future events or our future performance or financial
condition. Forward-looking statements may include statements
as to the future operating results, dividends and business
prospects of FSFR. Words such as “anticipates,” “believes,”
“expects,” “seeks,” “plans,” “should,” “estimates,” “projects,” and
“intends” indicate forward-looking statements, although not all
forward-looking statements include these words. These
forward-looking statements involve risks and uncertainties.
Actual results could differ materially from those implied or
expressed in these forward-looking statements for any reason.
Such factors are identified from time to time in FSFR’s filings
with the Securities and Exchange Commission and include changes in
the economy and the financial markets and future changes in laws or
regulations and conditions in the Company’s operating areas.
FSFR undertakes no obligation to 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, Senior Vice President, Head of Investor Relations
(203) 681-3720
ir@fifthstreetfinance.com
Media Contact:
Michael Freitag / James Golden / Andrew Squire
Joele Frank Wilkinson Brimmer Katcher
(212) 355-4449
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