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Fifth Street Finance Corp. Expands Its Syndicated Bank Credit Facility to $670 Million

Fifth Street Finance Corp. Expands Its Syndicated Bank Credit Facility to $670
Million

WHITE PLAINS, NY, May 6, 2014 (GLOBE NEWSWIRE) -- Fifth Street Finance Corp.
(NASDAQ:FSC) ("FSC") today announced the addition of a new lender and an
incremental commitment from an existing lender to its syndicated bank credit
facility led by ING Capital LLC. As a result, the committed facility size
increased by $20 million to $670 million. The facility now includes 16 lenders
with an accordion feature allowing for potential future expansion up to $800
million. The final maturity of the facility remains August 6, 2018.

"Our syndicated credit facility provides flexible capital to meet the
financing needs of our private equity sponsor clients for transactions up to
$250 million," said Leonard M. Tannenbaum, FSC's Chief Executive Officer,
adding, "When combined with our two investment grade credit ratings and
ability to access the institutional unsecured bond market, our liability
structure remains flexible, low-cost and includes a significant amount of
fixed rate longer-term debt."

About Fifth Street Finance Corp.

Fifth Street Finance Corp. is a leading specialty finance company that
provides custom-tailored financing solutions to small and mid-sized companies,
primarily in connection with investments by private equity sponsors. The
company originates and invests in one-stop financings, first lien, second
lien, mezzanine debt and equity co-investments. The company's investment
objective is to maximize its portfolio's total return by generating current
income from its debt investments and capital appreciation from its equity
investments. The company has elected to be regulated as a business
development company and is externally managed by Fifth Street Management LLC.
Named both 2013 "Lender Firm of the Year" by The M&A Advisor and "Lender of
the Year" by Mergers & Acquisitions, Fifth Street Management is an
SEC-registered investment adviser and leading alternative asset manager with
over $4 billion in assets under management. With a track record of more than
15 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.FSC's website can be found at
fsc.fifthstreetfinance.com.

About ING Capital LLC

ING Capital LLC is an indirect U.S. subsidiary of ING Bank NV, which is part
of the global financial services company ING Group.ING Bank NV has 67,000
employees serving its clients through its extensive global network in the
world's major financial services markets. ING Capital has built a leading
position in corporate lending.The Investment Industry Finance (IIF) group at
ING Capital offers a broad range of structured finance solutions to its
clients active in the Investment Industry, including Business Development
Companies.

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," "should," 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 otherwise.

CONTACT: Investor Contact:
         Dean Choksi, Executive Director of Finance
         & Head of Investor Relations
         (914) 286-6855
         dchoksi@fifthstreetfinance.com
        
         Media Contact:
         Nick Rust
         Prosek Partners
         (212) 279-3115 ext. 252
         pro-fifthstreet@prosek.com
        
         Credit Facility Contact:
         Patrick Frisch, Managing Director
         (646) 424-6912
         patrick.frisch@americas.ing.com

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