Item 8.01 Other Events.
On March 29, 2018, Oaktree Capital Management, L.P., Oaktree Capital II, L.P., Oaktree AIF Investments, L.P., and Oaktree Capital I, L.P.
(collectively, the Borrowers) entered into the Fourth Amendment to Credit Agreement (the Fourth Amendment), which amends the Credit Agreement, dated as of March 31, 2014 (as amended through and including the Fourth
Amendment, the Credit Agreement), by and among the Borrowers, Wells Fargo Bank, National Association (Wells Fargo) and the other lenders party thereto. Wells Fargo acts as administrative agent, lender, letter of credit issuer
and swing line lender thereunder. Each of the Borrowers is an indirect subsidiary of Oaktree Capital Group, LLC (the Company).
The Fourth Amendment extends the maturity date of the Credit Agreement from March 31, 2021 to March 29, 2023; provided that the
Borrowers have the option to extend the new maturity date by one year if the lenders holding at least 50% of the aggregate amount of the term loan and the revolving loan commitment thereunder on the date of the Borrowers extension request
consent to such extension. In addition, the Fourth Amendment favorably updates the commitment fee in the corporate ratings-based pricing grid; increases the permitted combined leverage ratio to a ratio of 3:50 to 1:00; and makes certain
other amendments to the provisions of the Credit Agreement.
Certain of the lenders under the Credit Agreement, or their affiliates, have
in the past performed, and may in the future from time to time perform, investment banking, financial advisory, commercial banking, and other services in the ordinary course of business for the Company and its subsidiaries, for which they have
received, and may in the future receive, customary compensation and, in some cases, customary indemnification and/or reimbursement of expenses.
The foregoing description is a summary and is qualified in its entirety by reference to the complete text of the Fourth Amendment filed as
Exhibit 10.1 hereto and incorporated herein by reference, as well as the complete text of the Credit Agreement. A copy of the Credit Agreement was filed as Exhibit 10.1 to a Current Report on Form
8-K
filed
with the SEC on April 4, 2014. A copy of the First Amendment to Credit Agreement, dated as of November 3, 2014, was filed as Exhibit 10.1 to a Quarterly Report on Form
10-Q
filed with the SEC on
November 7, 2014. A copy of the Second Amendment to Credit Agreement, dated as of March 31, 2016, was filed as Exhibit 10.1 to a Current Report on Form
8-K
filed with the SEC on April 6, 2016. A
copy of the Third Amendment to Credit Agreement, dated as of November 14, 2017, was filed as Exhibit 10.9.3 to an Annual Report on Form
10-K
filed with the SEC on February 23, 2018.