Oaktree Specialty Lending Corporation Prices Public Offering of $300,000,000 3.500% Notes due 2025
14 February 2020 - 9:28AM
Oaktree Specialty Lending Corporation (NASDAQ: OCSL) (“Oaktree
Specialty Lending” or the “Company”), a specialty finance company,
today announced that it has priced an underwritten public offering
of $300 million aggregate principal amount of 3.500% notes due
2025. The notes will mature on February 25, 2025 and may be
redeemed in whole or in part at the Company’s option at any time at
par plus a “make-whole” premium, if applicable.
J.P. Morgan Securities LLC, BofA Securities, Inc., RBC Capital
Markets, LLC and ING Financial Markets LLC are acting as joint
book-running managers for this offering. Barclays Capital Inc.,
Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, KeyBanc
Capital Markets Inc., MUFG Securities Americas Inc., Citigroup
Global Markets Inc., HSBC Securities (USA) Inc., Morgan Stanley
& Co., CIT Capital Securities LLC, R. Seelaus & Co., LLC,
Janney Montgomery Scott LLC, Jefferies LLC, JMP Securities LLC,
Keefe, Bruyette & Woods, Inc. and Wells Fargo Securities, LLC
are acting as co-managers for this offering. The offering is
expected to close on February 25, 2020, subject to customary
closing conditions.
Oaktree Specialty Lending expects to use the net proceeds of
this offering to reduce its outstanding debt, including its 5.875%
unsecured notes due 2024, its 6.125% unsecured notes due 2028 and a
portion of the borrowings under its revolving credit facility, and
for general corporate purposes.
Investors are advised to carefully consider the
investment objective, risks, charges and expenses of Oaktree
Specialty Lending before investing. The pricing term sheet
dated February 13, 2020, the preliminary prospectus supplement
dated February 13, 2020 and the accompanying prospectus dated
January 13, 2020, each of which have been filed with the Securities
and Exchange Commission, contain this and other information about
the Company and should be read carefully before
investing.
The pricing term sheet, the preliminary prospectus supplement,
the accompanying prospectus and this press release are not offers
to sell any securities of Oaktree Specialty Lending and are not
soliciting an offer to buy such securities in any jurisdiction
where such offer and sale is not permitted.
The offering may be made only by means of a preliminary
prospectus supplement and an accompanying prospectus. Copies of the
preliminary prospectus supplement (and accompanying prospectus) may
be obtained from J.P. Morgan Securities LLC at 383 Madison Avenue,
New York, NY 10179, Attn: Investment Grade Syndicate Desk,
facsimile: 212-834-6081; BofA Securities, Inc. at 200 North College
Street, NC1-004-03-43, Charlotte, NC 28255-0001, Attention:
Prospectus Department, Ph.: 1-800-294-1322; RBC Capital Markets,
LLC at 200 Vesey Street, 8th Floor, New York, NY 10281, Attention:
Transaction Management, facsimile: 212-658-6137; or ING Financial
Markets LLC at 1133 Avenue of the Americas, New York, NY 10036,
Attention: Investment Grade Syndicate Desk, facsimile:
646-424-6718.
About Oaktree Specialty Lending Corporation
Oaktree Specialty Lending Corporation (NASDAQ:OCSL) is a
specialty finance company dedicated to providing customized
one-stop credit solutions to companies with limited access to
public or syndicated capital markets. The Company seeks to generate
current income and capital appreciation by providing companies with
flexible and innovative financing solutions including first and
second lien loans, unsecured and mezzanine loans, and preferred
equity. The Company is regulated as a business development company
under the Investment Company Act of 1940, as amended. Oaktree
Specialty Lending is managed by Oaktree Capital Management,
L.P.
Forward-Looking Statements
Some of the statements in this press release constitute
forward-looking statements because they relate to future events or
our future performance or financial condition. The forward-looking
statements may include statements as to: our future operating
results and distribution projections; our business prospects and
the prospects of our portfolio companies; and the impact of the
investments that we expect to make. In addition, words such as
“anticipate,” “believe,” “expect,” “seek,” “plan,” “should,”
“estimate,” “project” and “intend” indicate forward-looking
statements, although not all forward-looking statements include
these words. The forward-looking statements contained in this press
release involve risks and uncertainties. Our actual results could
differ materially from those implied or expressed in the
forward-looking statements for any reason, including the factors
set forth in “Risk Factors” and elsewhere in our annual report on
Form 10-K and our quarterly reports on Form 10-Q. Other factors
that could cause actual results to differ materially include:
changes in the economy, financial markets and political
environment; risks associated with possible disruption in our
operations or the economy generally due to terrorism or natural
disasters; future changes in laws or regulations (including the
interpretation of these laws and regulations by regulatory
authorities) and conditions in our operating areas, particularly
with respect to business development companies or regulated
investment companies; and other considerations that may be
disclosed from time to time in our publicly disseminated documents
and filings.
We have based the forward-looking statements included in this
press release on information available to us on the date of this
press release, and we assume no obligation to update any such
forward-looking statements. Although we undertake no obligation to
revise or update any forward-looking statements, whether as a
result of new information, future events or otherwise, you are
advised to consult any additional disclosures that we may make
directly to you or through reports that we in the future may file
with the SEC, including annual reports on Form 10-K, quarterly
reports on Form 10-Q and current reports on Form 8-K.
Contacts
Investor Relations:Oaktree Specialty Lending CorporationMichael
Mosticchio(212) 284-1900ocsl-ir@oaktreecapital.com
Oaktree Specialty Lending (NASDAQ:OCSL)
Historical Stock Chart
From Apr 2024 to May 2024
Oaktree Specialty Lending (NASDAQ:OCSL)
Historical Stock Chart
From May 2023 to May 2024