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Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a leading specialty finance company focused on providing customized credit solutions to small and mid-sized companies in North America. OCSL operates as a business development company and is externally managed by Oaktree Fund Advisors, LLC, an affiliate of Oaktree Capital Management, L.P.
OCSL's primary investment strategy is to maximize its portfolio’s total return by generating current income from debt investments and capital appreciation from equity investments. The company specializes in a variety of financing solutions, including first and second lien loans, unsecured and mezzanine loans, and preferred equity. Its target investments range from $5 million to $75 million, with the potential to underwrite transactions up to $100 million, focusing on companies with enterprise values between $20 million and $150 million and EBITDA between $3 million and $50 million.
OCSL invests across diverse sectors such as education services, business services, retail and consumer, healthcare, manufacturing, food and restaurants, construction and engineering, and media and advertising. The company aims to be a lead investor in its portfolio companies, providing not only capital but also strategic guidance and support.
In recent quarters, OCSL has demonstrated strong financial performance. For the quarter ended June 30, 2023, the company reported adjusted total investment income of $101.1 million and adjusted net investment income of $47.6 million. The fair value of its investment portfolio was $3.1 billion, comprising investments in 156 companies. OCSL’s robust origination activity and strategic enhancements to its capital structure have contributed to solid returns for its shareholders.
OCSL's approach to financing is designed to support various stages of a company's lifecycle, including expansions, sponsor-led acquisitions, and management buyouts. The company's flexibility in providing a mix of debt and equity financing options allows it to tailor solutions that meet the specific needs of its portfolio companies.
One of the notable achievements during the fiscal third quarter of 2023 was the consolidation of a credit facility acquired from Oaktree Strategic Income II, Inc. with the existing Citibank facility, extending its maturity to 2027. Additionally, the company increased the size of its syndicated credit facility to $1.2 billion, extending its maturity to 2028. These strategic moves reflect OCSL’s proactive approach to managing its capital structure, ensuring flexibility and enhanced funding options to capitalize on new investment opportunities.
OCSL's commitment to maintaining strong credit quality and managing non-performing assets is evident from its proactive measures to address underperforming investments. The company leverages the extensive resources and expertise of Oaktree Capital Management to navigate complex situations and maximize recoveries.
Overall, OCSL is well-positioned to deliver attractive returns to its shareholders through its disciplined investment approach, diversified portfolio, and strategic initiatives that enhance its financial flexibility and investment capacity.
Oaktree Specialty Lending reported its Q4 and full year 2024 financial results. Total investment income was $94.7M ($1.15/share) for Q4 and $381.7M ($4.75/share) for the full year. Net investment income was $44.9M ($0.55/share) for Q4 and $175.1M ($2.18/share) for the full year. The company's NAV per share decreased to $18.09 as of September 30, 2024, down from $18.19 in Q3 and $19.63 year-over-year. The company originated $259M in new investment commitments during Q4. The Board declared a quarterly distribution of $0.55 per share, payable December 31, 2024.
Oaktree Specialty Lending (NASDAQ:OCSL) has announced its schedule for the fourth fiscal quarter and full year 2024 earnings conference call, set for November 19, 2024. The company will report its financial results before the Nasdaq Global Select Market opens on that day. Management will host a conference call at 11:00 a.m. Eastern Time / 8:00 a.m. Pacific Time to discuss the results.
Investors can access the call by dialing (877) 507-3275 (U.S. callers) or +1 (412) 317-5238 (non-U.S. callers) and referencing "Oaktree Specialty Lending". Alternatively, a live webcast will be available through the Investors section of the company's website. A replay of the call will be accessible on the website or by phone using the provided numbers and access code 1211943.
Oaktree Specialty Lending (NASDAQ: OCSL) announced its financial results for the fiscal quarter ended June 30, 2024. Total investment income was $95.0 million ($1.16 per share), a slight increase from $94.0 million ($1.18 per share) in the prior quarter, driven by higher interest income and OID accretion, but offset by non-accrual investments and lower amendment fees.
Adjusted total investment income was $95.6 million ($1.17 per share), down from $97.3 million ($1.22 per share). GAAP net investment income rose to $44.6 million ($0.54 per share) from $41.4 million ($0.52 per share). However, NAV per share decreased to $18.19 from $18.72, due to unrealized losses.
New investment commitments were $338.7 million with proceeds of $185.5 million from prepayments and sales. The quarterly distribution of $0.55 per share is payable on September 30, 2024, to stockholders of record on September 16, 2024.
Oaktree Specialty Lending (NASDAQ: OCSL) announced it will release its financial results for the third fiscal quarter ended June 30, 2024, on August 1, 2024, before the Nasdaq Global Select Market opens. The company's management will discuss these results in a conference call at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) on the same day. Investors can join the call by dialing (877) 507-3275 (U.S.) or +1 (412) 317-5238 (international). A live webcast will also be available on the Oaktree Specialty Lending website. For those who miss the live event, a replay will be accessible on the website or by dialing (877) 344-7529 (U.S.) or +1 (412) 317-0088 (international), using access code 8388100.
Oaktree Specialty Lending (OCSL) announced a permanent reduction in its base management fee, effective July 1, 2024, from 1.50% to 1.00% on gross assets, excluding cash. The fee reduction is expected to increase OCSL's net investment income per share annually by approximately $0.15, leading to a 0.8% improvement in return on adjusted net investment income, a 7% increase from current levels. This change demonstrates Oaktree's commitment to aligning interests with shareholders, enhancing earnings power, and maximizing long-term shareholder value.
Oaktree Specialty Lending (OCSL) announced its financial results for the second fiscal quarter of 2024, with total investment income of $94.0 million, a quarterly distribution of $0.55 per share, and a permanent management fee reduction. The company also reported a decrease in GAAP net investment income and NAV per share. Despite these changes, Oaktree Specialty Lending showed strong portfolio activity and a shift towards first lien loans. The company's liquidity and capital resources remain stable, with total debt outstanding of $1,680.0 million and unrestricted cash of $125.0 million.
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