Oaktree Specialty Lending prepares offering of fixed-rate notes

Chicago, Aug. 8 – Oaktree Specialty Lending Corp. announced a new offering of fixed-rate notes in a 424B2 filing with the Securities and Exchange Commission on Tuesday morning.

Oaktree may call the notes early with a make-whole premium until one month before the maturity date when the notes become callable at par.

If there is a change of control, the notes will be putable at par.

The joint bookrunners are BofA Securities, Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC and SMBC Nikko Securities America, Inc.

Deutsche Bank Trust Co. Americas will be the trustee.

Kirkland & Ellis LLP is advising the issuer. Dechert LLP is working as counsel for the bookrunners.

Proceeds will be used to reduce debt under credit facilities, namely the $800 million syndicated credit facility that had a current weighted average interest rate of 6.584% and the $335 million outstanding OSI 2 Senior Lending SPV, LLC facility that had a weighted average interest rate of 7.275% for the first six months of the year.

The company may reborrow under the credit facilities later to make investments or use borrowings for general corporate purposes.

Oaktree Specialty Lending is a Los Angeles-based specialty finance company managed by Oaktree Capital Group, LLC.

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