Oaktree Specialty Lending Corporation [NASDAQ: OCSL] disclosed that it has set the price of an underwritten public offering of $350.0 million aggregate principal amount of 2.700% notes due 2027. As per the firm, the notes will mature on January 15, 2027. Notes will be transferred in whole or in part at any time at par plus a “make-whole” premium, if relevant.
Oaktree disclosed that the firm is endeavoring to grow its financing bases with the valuing of this attractive, long-term debt. The firm is confident that this deal reinforces its balance sheet. Furthermore, the firm is trying to enhance its financing flexibility after the latest ending of the merger with Oaktree Strategic Income Corporation.
Shares of Oaktree went down 1.42% as it has lost -0.09 during the trading session of Tuesday. In the past 52-weeks of trading, the share of the firm fluctuated between the 52-week low and high range of $3.82 and $6.83, respectively. It has recorded a total decline of 72.38% from its 52-week low and a surge of -3.59%. OCSL market capitalization has reached 1.19 billion at the time of writing.
Additionally, Oaktree Specialty Lending anticipates utilizing the net profit to lessen its due debt under its revolving credit facility. Furthermore, it is also planning to use it for general business purposes. The offering is anticipated to execute on May 18, 2021after the fulfillment of certain ending conditions.