Oaktree Specialty Lending Completes Merger with Oaktree Strategic Income
Oaktree Specialty Lending closed its previously announced merger with Oaktree Strategic Income Corporation (OCSI), with Oaktree Specialty Lending as the surviving company.
Oaktree Specialty Lending closed its previously announced merger with Oaktree Strategic Income Corporation (OCSI), with Oaktree Specialty Lending as the surviving company.
Oaktree Specialty Lending, a specialty finance company, reported financial results for the fiscal quarter ended June 30, 2020, including total investment income of $34.4 million, which was up from $34.2 million for fiscal Q2/20.
Fitch Ratings affirmed the long-term issuer default rating, senior secured debt rating and senior unsecured debt rating of Oaktree Specialty Lending at ‘BBB-‘. The rating outlook was revised to stable from negative.
Oaktree Specialty Lending upsized and extended its senior secured revolving credit facility, increasing total commitments under the facility from $600 million to $680 million.
Oaktree Specialty Lending entered into a new $600 million secured revolver. ING Capital, J.P. Morgan and Bank of America Merrill Lynch served as joint lead arrangers on the deal.
Oaktree Specialty Lending entered into a new secured revolving credit facility with a $600 million capacity and a maturity date of November 2020.