LOS ANGELES (GLOBE NEWSWIRE) — Oaktree Specialty Lending Corporation 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 2.00% to SOFR plus 1.75% to 1.875%, depending on the debt outstanding, plus a 0.10% SOFR adjustment. As of today, the interest rate is SOFR plus 1.875%, plus the 0.10% SOFR adjustment. In addition, the minimum consolidated interest coverage ratio of 2.25x was removed.
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 $1,500 million, under certain conditions.
“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 impact on net investment income.”
