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Oaktree Specialty Lending Corporation Announces Amendments to its Secured Revolving Credit Facility

1. OCSL extended its credit facility maturity to April 2030. 2. Interest rate reduced from SOFR plus 2.00% to 1.75%-1.875%. 3. Minimum interest coverage ratio of 2.25x removed, enhancing flexibility. 4. Facility allows potential expansion to $1.5 billion under conditions. 5. OCSL expects reduced expenses to positively impact net investment income.

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FAQ

Why Bullish?

Lower interest rates and maturity extension improve financial stability; past similar moves bolstered stocks.

How important is it?

The credit facility amendment enhances liquidity and profitability, critical for OCSL's operations.

Why Short Term?

Immediate benefits from financial costs reduction will influence net income and investor sentiment quickly.

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Extends Maturity to April 2030 and Lowers Pricing of the Facility April 14, 2025 17:05 ET  | Source: Oaktree Specialty Lending Corporation LOS ANGELES, CA, April 14, 2025 (GLOBE NEWSWIRE) -- Oaktree Specialty Lending Corporation (NASDAQ:OCSL) (“Oaktree Specialty Lending”) today announced that it has extended its senior secured revolving credit facility (the “amended facility”). The final maturity was extended from June 2028 to April 2030. The interest rate on the amended facility was reduced from SOFR plus 2.00% to SOFR plus 1.75% to 1.875%, depending on the debt outstanding, plus a 0.10% SOFR adjustment. As of today, the interest rate is SOFR plus 1.875%, plus the 0.10% SOFR adjustment.   In addition, the minimum consolidated interest coverage ratio of 2.25x was removed. The amended facility continues to include an accordion feature which would allow Oaktree Specialty Lending to increase the size of the amended facility to a maximum of $1,500 million, under certain conditions.        “We are pleased to have completed the amendment and extension of our credit facility,” according to OCSL president, Matt Pendo. “We sincerely appreciate the support of our banking partners. By reducing interest expense and other fees, we believe this will have a positive effect on net investment income.” About Oaktree Specialty Lending Corporation Oaktree Specialty Lending Corporation (NASDAQ:OCSL) is a specialty finance company dedicated to providing customized one-stop credit solutions to companies with limited access to public or syndicated capital markets. The firm seeks to generate current income and capital appreciation by providing companies with flexible and innovative financing solutions including first and second lien loans, unsecured and mezzanine loans, and preferred equity. The company is regulated as a business development company under the Investment Company Act of 1940, as amended. Oaktree Specialty Lending is managed by Oaktree Capital Management, L.P. For additional information, please visit Oaktree Specialty Lending's website at www.oaktreespecialtylending.com. Contacts Investor Relations:Oaktree Specialty Lending CorporationClark Koury(213) 830-6222ocsl-ir@oaktreecapital.com

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