Oaktree Specialty Lending plans credit facility paydown from notes

Chicago, Aug. 8 – Oaktree Specialty Lending Corp. plans to repay bank debt from a new notes offering, according to a 424B2 filing with the Securities and Exchange Commission on Tuesday.

The new notes will be used to reduce debt outstanding under a syndicated credit facility and a facility that lists OSI 2 Senior Lending SPV, LLC as borrower.

As of June 30, there was $800 million outstanding under the syndicated credit facility, with an average interest rate of 6.584%.

As of June 30, there was $335 million outstanding under the OSI 2 Citibank facility with an average interest rate of 7.275%.

The company said it may reborrow later under the facilities to make investments in accordance with its investment objective and strategies 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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