Item 1.01. Entry into a Material Definitive Agreement.
On August 18, 2014
, Berwyn Funding LLC
, a wholly-owned, special purpose
financing subsidiary of FS Energy and Power Fund
(the "Company"), entered into
an amendment to the committed facility agreement, dated as of December 11, 2013
between BNP Paribas Prime Brokerage, Inc.
, on behalf of itself and as agent for
the BNPP Entities ("BNP"), and Berwyn Funding LLC
(the "Amendment"). The
Amendment increased the maximum commitment financing available to Berwyn Funding
and added a 30-day cancellation right for
BNP if BNP Paribas'
long-term credit rating declines three or more notches below
its highest rating by any of Standard & Poor's Financial Services LLC
Investors Service, Inc.
, or Fitch Ratings, Inc.
, during the period commencing on
the closing date of the committed facility agreement (December 11, 2013
ending on the date of such long-term credit rating decline. The Company has paid
or will pay certain fees to BNP Paribas Prime Brokerage, Inc.
in connection with
No other material terms of the committed facility agreement changed in
connection with the Amendment.
The foregoing description of the Amendment as set forth in this Item 1.01 is a
summary only and is qualified in all respects by the provisions of the
Amendment, a copy of which is attached hereto as Exhibit 10.1 and is
incorporated by reference herein.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The information in Item 1.01 of this Current Report on Form 8-K is incorporated
by reference into this Item 2.03.
Item 9.01. Financial Statements and Exhibits.
First Amendment Agreement, dated as of August 18, 2014, between BNP
10.1 Paribas Prime Brokerage, Inc., on behalf of itself and as agent for the
BNPP Entities and Berwyn Funding LLC.