Oaktree Gardens OLP closes $125 million one-year revolver

By Marisa Wong

Los Angeles, Oct. 2 – Oaktree Gardens OLP, LLC entered into a revolving credit agreement on Sept. 26 with Gardens Coinvest, LLC as initial qualified borrower, Oaktree Gardens OLP SPV, LP as initial guarantor, Oaktree OLPG GP, LP as general partner, Oaktree OLPG GP Ltd. as ultimate general partner and Sumitomo Mitsui Banking Corp. as lender, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement provides for a senior secured revolving credit facility of up to $125 million in aggregate principal amount, subject to the lesser of 90% of unfunded commitments from certain eligible investors in the company and the maximum commitment.

The maturity date of the revolver is Sept. 26, 2024.

Borrowings bear interest at term SOFR plus 245 basis points. There is a 25 bps non-usage fee on the unused portion of the revolver.

The investment fund is based in Los Angeles.

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