Oaktree Specialty Lending enters into $600 million secured revolver

By Tali Rackner

Minneapolis, Dec. 1 – Oaktree Specialty Lending Corp. entered into a new $600 million secured revolving credit facility, according to a Friday news release.

The revolving period expires in November 2020 and the final maturity date will occur one year following the end of the revolving period.

Interest is equal to Libor plus 225 basis points to 275 bps, with the initial pricing at Libor plus 225 bps.

The revolver also includes usual and customary representations and warranties, covenants and events of default for senior secured facilities of this nature.

ING Capital LLC, J.P. Morgan and BofA Merrill Lynch served as joint lead arrangers on the facility.

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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