Oaktree extends $750 million credit agreement by two years to 2021

By Wendy Van Sickle

Columbus, Ohio, April 6 – Oaktree Capital Group, LLC’s indirect subsidiaries, Oaktree Capital Management, LP, Oaktree Capital II, LP, Oaktree AIF Investments, LP and Oaktree Capital I, LP, amended their credit agreement on March 31 to, among other things, extend its maturity by two years to March 31, 2021, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement, originally dated March 31, 2014, provides for a $500 million revolving credit facility and a $250 million term loan. The amendment provides the option to extend the agreement an additional year with consent from lenders holding at least 50% of the total $750 million commitment.

The amendment also increases the minimum assets under management to $60 billion and permits cash and stock dividends, except in the event of payment, financial covenant or bankruptcy-related defaults or events of default.

Wells Fargo Bank, NA is the administrative agent.

Oaktree Capital is a Los Angeles-based asset management firm.

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