Oaktree Specialty unit extends revolver, downsizes to $200 million

By Wendy Van Sickle

Columbus, Ohio, March 25 – OCSI Senior Funding Ltd., a wholly owned subsidiary of Oaktree Strategic Income Corp., amended its credit facility with Deutsche Bank AG, New York Branch as agent on March 22 to decrease the size by $50 million to $200 million and extend the maturity date and revolving period, according to an 8-K filing with the Securities and Exchange Commission.

Specifically, the revolving period was extended to Sept. 30, 2020. The maturity date was extended to March 30, 2021 from June 30.

Also, the interest rate was modified to Libor plus 225 basis points through Sept. 30, 2020, after which the rate will reset to Libor plus 240 bps. The non-usage fee remains 50 bps.

Oaktree is a specialty finance company based in Los Angeles.

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