Oaktree revolver increases $25 million with additional MUFG commitment

By Cady Vishniac

Detroit, Dec. 30 – MUFG Union Bank, NA has increased its incremental commitment to $75 million from $50 million under Oaktree Specialty Lending Corp.’s senior secured revolving credit facility due Feb. 25, 2024 with ING Capital LLC as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

As previously reported, the revolver increased to $680 million from $600 million in February 2019.

ING Capital, JPMorgan Chase Bank, NA and Merrill Lynch, Pierce, Fenner & Smith Inc. are joint lead arrangers and joint bookrunners, and JPMorgan Chase and Bank of America, NA are syndication agents.

The amended facility continues to include an accordion feature which would allow Oaktree to increase the size of the facility to a maximum of $1.02 billion, under some conditions.

Formerly Fifth Street Finance Corp., Oaktree Specialty is a specialty finance company based in Los Angeles. The business development company is managed by Oaktree Capital Management, LP.

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