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Oaktree Strategic gets up to $150 million five-year revolver
By Wendy Van Sickle
Columbus, Ohio, March 31 – Oaktree Strategic Credit Fund entered into a revolving credit agreement on March 25 with ING Capital LLC as administrative agent, lead arranger, bookrunner and syndication agent, providing for an up to $150 million senior secured five-year revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.
The revolver amount is subject to a borrowing base.
Borrowings may be drawn during the four-year availability period, and there is a $25 million sublimit for letters of credit during the availability period.
All obligations are secured by a first-priority security interest in substantially all of the present and future property and assets of the company.
Borrowings bear interest at adjusted SOFR plus 187.5 basis points.
There is a fee of 37.5 bps per year on the unused portion of the revolver, payable quarterly.
Oaktree is a specialty finance company based in Los Angeles.
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