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.