Oaktree Specialty Lending sells $300M 7% 2031 notes
Oaktree Specialty Lending Corp issued $300 million of 7.000% Notes due 2031 to refinance debt and for general corporate purposes under its existing shelf registration.
Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary
Oaktree Specialty Lending Corporation (OCSL) entered into a Ninth Supplemental Indenture with Deutsche Bank Trust Company Americas to issue, offer and sell $300.0 million aggregate principal amount of its 7.000% Notes due 2031. The transaction closed on September 16, 2026, and the Notes mature on September 16, 2031, unless earlier redeemed or repurchased.
The Notes pay interest at 7.000% per year, payable semiannually on March 16 and September 16, starting March 16, 2027, and are direct, unsecured obligations ranking senior to subordinated debt, equal to other unsecured unsubordinated debt, and effectively junior to secured and subsidiary indebtedness. Before August 16, 2031, OCSL may redeem the Notes at a make-whole price; on or after that Par Call Date, they are redeemable at 100% of principal plus interest. Upon a Change of Control Repurchase Event, holders can require OCSL to repurchase the Notes at 100% of principal plus accrued interest. OCSL expects to use net proceeds mainly to reduce outstanding borrowings under its senior secured revolving credit facility and for general corporate purposes.
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Negative
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