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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 Corporation (NASDAQ: OCSL) announced its financial results for the fiscal year and quarter ending September 30, 2021. Total investment income reached $63.8 million for the fourth quarter and $209.4 million for the full year. GAAP net investment income was $33.0 million for the quarter and $97.1 million for the year. Net asset value per share increased by 0.8% to $7.28. A quarterly cash distribution of $0.155 per share was declared, marking a 7% increase. The company originated $385 million in new investments, with a weighted average yield of 8.6%.
Oaktree Specialty Lending Corporation (NASDAQ: OCSL) will report its financial results for Q4 and the full year ending September 30, 2021, on November 16, 2021, before the Nasdaq opens. A conference call will be held on the same day at 1:00 p.m. ET to discuss these results. The company focuses on providing credit solutions to companies with limited access to capital markets, aiming for current income and capital appreciation through various financing options. For more information, visit their website.
Oaktree Specialty Lending Corporation (NASDAQ: OCSL) reported a strong financial performance for the fiscal quarter ended June 30, 2021. Total investment income reached $65.4 million ($0.36 per share), up from $41.9 million ($0.29 per share) in the prior quarter, driven by gains from a recent merger. GAAP net investment income also rose to $35.9 million ($0.20 per share), compared to $18.1 million ($0.12 per share). NAV per share increased by 1.8% to $7.22, bolstered by unrealized gains. The company declared a quarterly distribution of $0.145 per share, marking an 11.5% increase.
Oaktree Specialty Lending Corporation (NASDAQ:OCSL) will announce its financial results for the third fiscal quarter ended June 30, 2021, before the market opens on August 5, 2021. A conference call to discuss these results will be held on the same day at 11:00 a.m. Eastern Time. Investors can participate by calling (877) 507-4376 or accessing a live webcast via the company’s website. Oaktree Specialty Lending specializes in providing customized credit solutions to companies with limited access to capital markets.
Oaktree Specialty Lending Corporation (NASDAQ: OCSL) has announced a public offering of $350 million in 2.700% notes due 2027, set to mature on January 15, 2027. The offering is aimed at expanding financing sources and strengthening the company's balance sheet post-merger with Oaktree Strategic Income Corporation. The net proceeds will be used to reduce outstanding debt and for general corporate purposes. The offering is expected to close on May 18, 2021.
Oaktree Specialty Lending Corporation (NASDAQ: OCSL) reported a total investment income of $41.9 million ($0.29 per share) for Q2 2021, up from $38.2 million in Q1 2021. This increase was primarily due to new originations and the merger with Oaktree Strategic Income Corporation (OCSI). GAAP net investment income surged to $18.1 million ($0.12 per share), with a 4% increase in net asset value per share, now $7.09. The company declared an 8% increase in quarterly cash distribution to $0.13 per share, marking the fourth consecutive rise in dividends.
Oaktree Specialty Lending Corporation (NASDAQ:OCSL) will announce its financial results for the second fiscal quarter ending March 31, 2021, before Nasdaq opens on May 6, 2021. A conference call will take place at 11:00 a.m. Eastern Time on the same day to discuss these results. Interested parties can participate by dialing (877) 507-4376 for U.S. callers or +1 (412) 317-5239 for international callers. There will also be a live webcast available on the company's website and a replay afterwards.
Oaktree Specialty Lending Corporation (NASDAQ:OCSL) has finalized its merger with Oaktree Strategic Income Corporation (OCSI), with OCSL as the surviving entity. The merger creates a combined entity with over $2.2 billion in assets. Under the agreement, OCSI shareholders will receive 1.3371 shares of OCSL for each OCSI share held. OCSL stockholders will own 78.2% of the new entity. Additionally, Oaktree Fund Advisers will waive $750,000 in management fees for the next eight quarters, totaling $6 million in waived fees. A contingent special distribution of $0.10 per share is also announced for OCSI stockholders.
On March 15, 2021, Oaktree Specialty Lending Corporation (NASDAQ:OCSL) and Oaktree Strategic Income Corporation (NASDAQ:OCSI) announced that stockholders approved their two-step merger, with over 98% voting in favor. The transaction is expected to close on or about March 19, 2021, pending customary closing conditions. CEO Armen Panossian expressed gratitude for the stockholders' support, emphasizing the anticipated benefits of the merger for stakeholders.
Oaktree Specialty Lending (NASDAQ: OCSL) reported fiscal Q1 2021 results for the quarter ending December 31, 2020, with total investment income of $38.2 million ($0.27 per share), down from $43.6 million ($0.31 per share) in Q4 2020. GAAP net investment income was $10.0 million ($0.07 per share), a decrease from $24.5 million ($0.17 per share) due to lower income and higher fees. However, NAV per share rose 5% to $6.85. The Board declared a cash distribution of $0.12 per share, marking a 9% increase. The company originated $286.3 million in new investments during the quarter.
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