Oaktree Specialty Lending Corporation Announces Amendments to its Secured Revolving Credit Facility
Oaktree Specialty Lending (NASDAQ:OCSL) has announced significant amendments to its senior secured revolving credit facility. The key changes include extending the maturity date from June 2028 to April 2030 and reducing the interest rate from SOFR plus 2.00% to SOFR plus 1.75% to 1.875%, depending on debt outstanding, plus a 0.10% SOFR adjustment.
The amended facility maintains its accordion feature, allowing OCSL to potentially increase the facility size to $1,500 million under certain conditions. Additionally, the minimum consolidated interest coverage ratio requirement of 2.25x has been removed. The current interest rate stands at SOFR plus 1.875%, plus the 0.10% SOFR adjustment.
Oaktree Specialty Lending (NASDAQ:OCSL) ha annunciato modifiche significative alla sua linea di credito senior garantita revolving. Le principali novità includono l'estensione della scadenza da giugno 2028 ad aprile 2030 e la riduzione del tasso di interesse da SOFR più 2,00% a SOFR più 1,75% - 1,875%, a seconda dell'ammontare del debito, più un aggiustamento SOFR dello 0,10%.
La linea di credito modificata mantiene la funzione accordion, che consente a OCSL di aumentare potenzialmente la dimensione della linea fino a 1.500 milioni di dollari in determinate condizioni. Inoltre, è stato eliminato il requisito minimo del rapporto consolidato di copertura degli interessi di 2,25x. L'attuale tasso di interesse è pari a SOFR più 1,875%, più l'aggiustamento SOFR dello 0,10%.
Oaktree Specialty Lending (NASDAQ:OCSL) ha anunciado modificaciones importantes en su línea de crédito revolvente garantizada senior. Los cambios clave incluyen la extensión de la fecha de vencimiento de junio de 2028 a abril de 2030 y la reducción de la tasa de interés de SOFR más 2,00% a SOFR más 1,75% - 1,875%, según la deuda pendiente, más un ajuste SOFR del 0,10%.
La línea modificada mantiene la función accordion, permitiendo a OCSL aumentar potencialmente el tamaño de la línea hasta 1.500 millones de dólares bajo ciertas condiciones. Además, se eliminó el requisito mínimo del ratio consolidado de cobertura de intereses de 2,25x. La tasa de interés actual es SOFR más 1,875%, más el ajuste SOFR del 0,10%.
Oaktree Specialty Lending (NASDAQ:OCSL)은(는) 선순위 담보 회전 신용 시설에 대한 중대한 수정 사항을 발표했습니다. 주요 변경 사항으로는 만기일을 2028년 6월에서 2030년 4월로 연장하고, 이자율을 SOFR 플러스 2.00%에서 SOFR 플러스 1.75%~1.875%(부채 잔액에 따라 다름) 및 0.10% SOFR 조정으로 인하한 점이 포함됩니다.
수정된 시설은 accordion 기능을 유지하여 OCSL이 특정 조건 하에 시설 규모를 15억 달러까지 잠재적으로 늘릴 수 있도록 합니다. 또한 최소 통합 이자보상비율 2.25배 요건이 제거되었습니다. 현재 이자율은 SOFR 플러스 1.875%에 0.10% SOFR 조정을 더한 수준입니다.
Oaktree Specialty Lending (NASDAQ:OCSL) a annoncé des modifications importantes de sa facilité de crédit renouvelable senior garantie. Les changements principaux incluent le report de la date d’échéance de juin 2028 à avril 2030 ainsi que la réduction du taux d’intérêt de SOFR plus 2,00 % à SOFR plus 1,75 % à 1,875 %, selon le montant de la dette en cours, plus un ajustement SOFR de 0,10 %.
La facilité modifiée conserve sa fonction accordion, permettant à OCSL d’augmenter potentiellement la taille de la facilité jusqu’à 1,5 milliard de dollars sous certaines conditions. De plus, l’exigence minimale du ratio de couverture des intérêts consolidé de 2,25x a été supprimée. Le taux d’intérêt actuel est de SOFR plus 1,875 %, plus l’ajustement SOFR de 0,10 %.
Oaktree Specialty Lending (NASDAQ:OCSL) hat bedeutende Änderungen an seiner vorrangigen besicherten revolvierenden Kreditfazilität bekanntgegeben. Die wichtigsten Änderungen umfassen die Verlängerung des Fälligkeitsdatums von Juni 2028 auf April 2030 sowie die Senkung des Zinssatzes von SOFR plus 2,00 % auf SOFR plus 1,75 % bis 1,875 %, abhängig vom ausstehenden Schuldenbetrag, zuzüglich einer SOFR-Anpassung von 0,10 %.
Die geänderte Fazilität behält die Accordion-Funktion bei, die es OCSL ermöglicht, die Fazilitätsgröße unter bestimmten Bedingungen auf 1,5 Milliarden US-Dollar zu erhöhen. Zudem wurde die Mindestanforderung an das konsolidierte Zinsdeckungsverhältnis von 2,25x aufgehoben. Der aktuelle Zinssatz beträgt SOFR plus 1,875 % zuzüglich der 0,10 % SOFR-Anpassung.
- Extended credit facility maturity by 2 years to April 2030
- Reduced interest rate by 25 basis points
- Removed minimum consolidated interest coverage ratio requirement of 2.25x
- Potential to increase facility size to $1,500M through accordion feature
- Lower interest expenses expected to boost net investment income
- None.
Extends Maturity to April 2030 and Lowers Pricing of the Facility
LOS ANGELES, CA, April 14, 2025 (GLOBE NEWSWIRE) -- Oaktree Specialty Lending Corporation (NASDAQ:OCSL) (“Oaktree Specialty Lending”) today announced that it has extended its senior secured revolving credit facility (the “amended facility”). The final maturity was extended from June 2028 to April 2030. The interest rate on the amended facility was reduced from SOFR plus
The amended facility continues to include an accordion feature which would allow Oaktree Specialty Lending to increase the size of the amended facility to a maximum of
“We are pleased to have completed the amendment and extension of our credit facility,” according to OCSL president, Matt Pendo. “We sincerely appreciate the support of our banking partners. By reducing interest expense and other fees, we believe this will have a positive effect on net investment income.”
About Oaktree Specialty Lending Corporation
Oaktree Specialty Lending Corporation (NASDAQ:OCSL) is a specialty finance company dedicated to providing customized one-stop credit solutions to companies with limited access to public or syndicated capital markets. The firm seeks to generate current income and capital appreciation by providing companies with flexible and innovative financing solutions including first and second lien loans, unsecured and mezzanine loans, and preferred equity. The company is regulated as a business development company under the Investment Company Act of 1940, as amended. Oaktree Specialty Lending is managed by Oaktree Capital Management, L.P. For additional information, please visit Oaktree Specialty Lending's website at www.oaktreespecialtylending.com.
Contacts
Investor Relations:
Oaktree Specialty Lending Corporation
Clark Koury
(213) 830-6222
ocsl-ir@oaktreecapital.com
FAQ
What are the key changes to OCSL's revolving credit facility in April 2025?
How much can OCSL increase its credit facility size under the accordion feature?
What is the current interest rate on OCSL's amended credit facility?
How will the credit facility amendments impact OCSL's financial performance?
