Oaktree Specialty Lending (OCSL) said late Monday it amended its senior secured revolving credit facility by extending its term and reducing the applicable interest rate.
The final maturity was extended to April 2030 from June 2028.
The interest rate was reduced to a Secured Overnight Financing Rate plus 1.75%-to-1.875% from SOFR plus 2%, depending on the debt outstanding, plus a 0.10% SOFR adjustment.
The minimum consolidated interest coverage ratio of 2.25 times was removed, the company said.
The amended facility continues to include an accordion feature which would allow Oaktree to increase the facility size to a maximum of $1.50 billion.
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