OFS Capital to repay 2023, 2026 notes, revolver debt via new notes

By Marisa Wong

Los Angeles, Oct. 21 – OFS Capital Corp. intends to fully or partially pay down, retire or redeem some of its outstanding debt using proceeds from an offering of new $25-par notes, according to a 424B2 filing with the Securities and Exchange Commission and a press release.

The outstanding debt includes OFS Capital’s 6.25% notes due Sept. 30, 2023, its 5.95% notes due Oct. 31, 2026 and borrowings under its secured revolving credit facility with BNP Paribas.

As of Oct. 19, the company had about $25 million of 2023 notes outstanding and $54.3 million of 2026 notes outstanding.

The 2023 notes will be redeemed on Nov. 1, as previously announced.

As of Oct. 19, the company had $78.1 million of debt outstanding under the BNP facility, which bore interest at rates from 1.84% to 2.6% as of that date. The BNP facility matures on June 20, 2024.

The closed-end externally managed non-diversified management investment company is based in Chicago.

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