Fifth Street Senior Floating Rate Corp. Releases Its March 2014 Newsletter: Fully Deployed in Active March Quarter

Fifth Street Senior Floating Rate Corp. Releases Its March 2014 Newsletter:
Fully Deployed in Active March Quarter

WHITE PLAINS, NY, March 18, 2014 (GLOBE NEWSWIRE) -- Fifth Street Senior
Floating Rate Corp. (NASDAQ:FSFR) ("FSFR") released its March 2014 newsletter

Platform Producing Results

We are now fully deployed with a diverse group of investments in 32 portfolio
companies and are operating within our target leverage range of 0.8x to 0.9x
debt-to-equity. The breadth of our platform and depth of our relationships
with private equity sponsors and middle market investment banks continue to
produce an active investment pipeline. We are finding attractive investment
opportunities because the middle market is partially insulated from the
degradation of loan structures and terms that are more prevalent in the
broadly-syndicated loan market.An active pipeline enables us to be selective
and only fund senior secured floating rate loans with favorable risk/reward
profiles.We are funding a portion of these investments by drawing on our
low-cost, eight-year credit facility with Natixis, New York branch at a cost
of 190 basis points plus the applicable commercial paper rate per annum.

We are also funding a portion of new investments by selling existing positions
that have appreciated in value.An active deal pipeline enables us to
continuously optimize the credits in the portfolio based on our view of
relative value and credit-specific performance and characteristics.

Third Quarter in a Row of Increasing Dividends

Continuing to operate within our leverage target and optimize the portfolio
should lead to additional growth in net investment income.Accordingly, in
February, our Board of Directors declared a June quarterly dividend of $0.27
per share, representing a 17% increase from the prior quarter's dividend and
our third consecutive quarterly increase.Based on our expectations for
continued growth in net investment income per share, our Board of Directors
may have the opportunity to declare a higher dividend level in the future. As
of yesterday's closing stock price, the shares were trading at a 7.6%
annualized dividend yield on the June quarterly dividend and 94% of NAV per
share of $15.10 as of December 31, 2013. 

SSLP Partnership in the Works

Similar to Fifth Street Finance Corp. (NASDAQ:FSC), FSFR is also in
discussions with a third party to establish a Senior Secured Loan Program
(SSLP).If successful, this joint venture should have a meaningful positive
impact on FSFR's earnings, especially given the overall size of its


The Fifth Street Team

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 small and mid-sized companies, primarily in connection with investments by
private equity sponsors. The company'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. Named 2013 "Lender Firm of the Year" by The M&A
Advisor, Fifth Street Management is an SEC-registered investment adviser and
leading alternative asset manager with over $3 billion in assets under
management. With a track record of more than 15 years and offices across the
country, 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. FSFR's website can be found at

Forward-Looking Statements

This press release may contain 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.The company
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or

CONTACT: Investor Contact:
         Dean Choksi,
         Executive Director of Finance & Head of Investor Relations
         (914) 286-6855
         Corporate Development:
         Juan Alva, Managing Director,
         Head of Strategy & Corporate Development
         (818) 876-9665
         Media Contact:
         Nick Rust
         Prosek Partners
         (212) 279-3115 ext. 252

Fifth Street Logo
Press spacebar to pause and continue. Press esc to stop.