FS Energy and Power Fund Decreases Public Offering Price

Non-traded, business development company (BDC) FS Energy and Power Fund recently decreased its public offering price. The BDC sponsored by Franklin Square Capital Partners, a Philadelphia-based company, reduced its per share price by five cents to $9.60.

The drop is in accordance with the BDC’s share pricing policy and is the second decrease this month.

FSEP’s board of trustees determined that following a decline in the fund’s net asset value of more than 2.5% below its then-current offering price, reducing the public offering price was reasonable.

Earlier this year, FS Energy and Power Fund’s shares were offered at $9.80 per share.

The BDC launched in July 2011 and has raised $2.9 billion in capital through October 28, 2014. The fund’s portfolio consists of 130 companies valued at $3.5 billion and its current annualized distribution rate is 7.38%.