Oaktree Specialty Lending Prices $300M 7% Notes Due 2031
OCSL sits 19% above its 52-week low of $10.63.
Summary
OCSL priced a $300 million underwritten public offering of 7.000% senior notes due 2031 at 99.95% of par, locking in a 7.012% yield to maturity. The notes mature September 16, 2031, and proceeds will reduce revolving credit facility debt and fund general corporate purposes. This follows the company's fiscal Q3 report showing declining NII, a lower NAV, and a 25% distribution cut amid mounting credit losses. The offering provides liquidity and extends debt maturity, but at a relatively high coupon reflecting credit concerns. Closing is expected September 16, 2026.
At the time of this announcement, OCSL was trading at $12.66 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $10.63 to $14.31. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: BusinessWire.