Oaktree Specialty Lending closed a new secured revolving credit facility. The facility’s total capacity is $600 million, the revolving period expires in November 2020 and the final maturity date will occur one year following the end of the revolving period.
The interest rate on the facility ranges from LIBOR plus 2.25% to 2.75%, with the initial pricing at LIBOR plus 2.25%.
ING Capital, J.P. Morgan and Bank of America Merrill Lynch served as joint lead arrangers. The facility also includes the addition of five new members to the syndicate, bringing the total number of lenders to 14.
“We are pleased to have entered into this new credit facility, achieving attractive pricing and terms, increasing its size and extending the revolving period from the previous facility,” said Matt Pendo, COO of Oaktree Specialty Lending. “We appreciate the continued support of our lending partners and welcome the new members to the syndicate. This new facility allows us to efficiently fund Oaktree Specialty Lending and is a sign of the support and confidence in the Oaktree platform and our approach to credit investing.”