OFS Capital pushes out reinvestment, final maturity dates on revolver

By Tali David

Minneapolis, Nov. 26 - OFS Capital Corp. wholly owned subsidiary OFS Capital WM, LLC extended the terms on its senior secured revolving credit facility via Wells Fargo Bank, NA, according to a press release.

The reinvestment period was extended to Dec. 31, 2015 from Dec. 31, 2013, and the final maturity date was extended to Dec. 31, 2018 from Dec. 31, 2016.

The facility continues to be secured by a pool of first-lien senior secured loans, and the new terms include an increase in the advance rate to 70% from 65%.

Additionally, the annual interest rate on the credit facility was reduced by 25 basis points, to Libor plus 250 bps with no floor from Libor plus 275 bps.

"We are pleased with the extension and the improved terms of our senior secured revolving credit facility," chairman and chief executive officer Glenn Pittson said in the release.

"We appreciate Wells Fargo's continuing to provide us with a flexible financing commitment that supports our company's growth."

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

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