Oxford Square Capital obtains two-year $92.5 million credit facility

By Wendy Van Sickle

Columbus, Ohio, June 22 – Oxford Square Capital Corp. said its special-purpose vehicle Oxford Square Funding 2018, LLC entered into a two-year $92.5 million credit facility on Thursday, the full amount of which was borrowed at closing, according to an 8-K filing with the Securities and Exchange Commission.

Borrowings bear interest at Libor plus 225 basis points.

The facility is secured by a pool of loans sold and contributed by the Oxford Square Capital to Oxford Square Funding 2018.

The facility matures on Jun 21, 2020. The borrower may reduce the amount of the facility at any time, subject to a prepayment fee and some breakage fees if prepayments occur prior to expiration of the relevant interest period.

Citibank, NA is the administrative agent. Bank of New York Mellon Trust Co., NA is the collateral agent.

Proceeds may be used to fund or pay the purchase price of eligible loans or eligible investments owned or acquired by the borrower; to fund additional extensions of credit under delayed drawdown collateral loans held by the borrower; and to fund the unfunded reserve account on the closing date.

Oxford Square, formerly Technology Investment Capital Corp., is a Greenwich, Conn.-based provider of capital to small- to mid-size technology-related companies.

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