Fifth Street Senior Floating Rate Corp. Raises $10

WHITE PLAINS, N.Y., July 17, 2013 (GLOBE NEWSWIRE) -- Fifth Street Senior Floating Rate Corp. (Nasdaq: FSFR ) (the "Company") today announced the closing of its initial public offering of 6,666,668 shares of its common stock at a public offering price of $15.00 per share for total gross proceeds of $100,000,020. The Company has also granted the underwriters an option to purchase up to 1,000,000 additional shares of common stock. The Company intends to use the net proceeds from this offering to make investments in middle market companies in accordance with its investment objective and strategies described in the prospectus and for general working capital purposes.

Morgan Stanley, Deutsche Bank Securities, UBS Investment Bank and Barclays are acting as lead book-running managers for the offering, RBC Capital Markets and Oppenheimer & Co. are acting as joint book-running managers for the offering and Maxim Group LLC, JMP Securities, Ladenburg Thalmann & Co. Inc., Wunderlich Securities and National Securities Corporation are acting as co-managers for the offering.

About Fifth Street Senior Floating Rate Corp.

Fifth Street Senior Floating Rate Corp. is a newly organized business development company that invests primarily in senior secured loans, including first lien, unitranche and second lien debt instruments, that pay interest at rates which are determined periodically on the basis of a floating base lending rate, made to private middle market companies whose debt is rated below investment grade. 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 will be managed by Fifth Street Management LLC, which also manages Fifth Street Finance Corp. (Nasdaq: FSC ), a publicly-traded business development company.

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," "intends," "expects," "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 otherwise.

Investor Contact: Dean Choksi, Senior Vice President of Finance & Head of Investor Relations Fifth Street Senior Floating Rate Corp. (914) 286-6855 Media Contact: James Velgot, Chief Marketing Officer Fifth Street Senior Floating Rate Corp. (914) 286-6848