OFS Capital terminates $45 million class B revolver to reduce costs

By Marisa Wong

Madison, Wis., Jan. 23 - OFS Capital WM, LLC, a wholly owned subsidiary of OFS Capital Corp., amended on Jan. 22 its $180 million secured revolving credit facility with Wells Fargo Bank, NA and Madison Capital Funding LLC to terminate the $45 million of class B commitments offered by Madison Capital and to remove Madison Capital as a lender.

According to an 8-K filing with the Securities and Exchange Commission, this fourth amendment to the credit facility reduces total commitments to $135 million, all provided by Wells Fargo.

Madison Capital waived its right to receive any fee in connection with the termination of the class B commitments, the filing noted.

The company said in a press release that it expects to realize annual savings of $225,000 by eliminating non-usage fees that would otherwise be due to Madison Capital.

OFS Capital is an investment company based in Rolling Meadows, Ill.

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