Oaktree plans to price $350 million of notes due 2027; price talk Treasuries plus 215 bps area

By Marisa Wong and Cristal Cody

Los Angeles, May 11 – Oaktree Specialty Lending Corp. plans to price $350 million of notes due Jan. 15, 2027, according to a market source.

The notes are talked to yield in the 215 basis points area over Treasuries, the source said.

The notes will be callable in whole or in part at any time and will be putable upon a change of control, according to a 424B2 filing with the Securities and Exchange Commission.

RBC Capital Markets LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and SMBC Nikko Securities America, Inc. are the joint bookrunners.

Proceeds will be used to reduce debt under the company’s syndicated revolving credit facility and for general corporate purposes. As of March 31, the company had $575 million outstanding under the revolver.

The specialty finance company is based in Los Angeles.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.