Oaktree Specialty Lending Corporation filed a Form 8-K with the SEC on September 11, 2026, disclosing that it entered into an underwriting agreement on September 9, 2026, to issue and sell $300.0 million aggregate principal amount of 7.000% Notes due 2031.

Key Highlights

  • Offering size: $300.0 million aggregate principal amount of 7.000% Notes due 2031
  • Net proceeds: $296.5 million, after deducting underwriting discount and estimated expenses
  • Underwriting discount: $2.6 million payable by the company
  • Estimated offering expenses: approximately $0.8 million payable by the company
  • Expected closing: September 16, 2026, subject to customary closing conditions
  • Lead underwriters: J.P. Morgan Securities LLC, BNP Paribas Securities Corp., ING Financial Markets LLC, RBC Capital Markets, LLC, and SMBC Nikko Securities America, Inc.

Oaktree Specialty Lending's $300M Notes Offering: Key Terms and Structure

According to the filing, Oaktree Specialty Lending Corporation (NASDAQ:OCSL) entered into an underwriting agreement on September 9, 2026, with Oaktree Fund Advisors, LLC and Oaktree Fund Administration, LLC also named as parties alongside the underwriters. The agreement covers the issuance and sale of $300.0 million aggregate principal amount of the company's 7.000% Notes due 2031. The filing identifies J.P. Morgan Securities LLC, BNP Paribas Securities Corp., ING Financial Markets LLC, RBC Capital Markets, LLC, and SMBC Nikko Securities America, Inc. as representatives of the several underwriters.

The company disclosed that net proceeds will be $296.5 million after deducting the underwriting discount of $2.6 million and estimated offering expenses of approximately $0.8 million, both payable by the company. The closing of the offering is expected to occur on September 16, 2026, subject to customary closing conditions, the filing stated.

The offering is being made pursuant to the company's effective shelf registration statement on Form N-2 (Registration No. 333-292920) filed with the SEC, as supplemented by a preliminary prospectus supplement dated September 9, 2026, and a final prospectus supplement dated September 9, 2026. The Underwriting Agreement is filed as Exhibit 1.1 to the 8-K. The filing was signed by Christopher McKown, Chief Financial Officer and Treasurer, on September 11, 2026.

What Was Disclosed

Oaktree Specialty Lending Corporation disclosed entry into an underwriting agreement for a $300.0 million offering of 7.000% Notes due 2031, with net proceeds of $296.5 million expected, and a closing date targeted for September 16, 2026.