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OFS Capital credit facility upsizes

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OFS Capital credit facility upsizes

OFS Capital Corp. said the maximum amount available under its senior secured revolving credit facility has been increased to $35.0 million from $25.0 million.

Additionally, the interest rate under the credit facility was changed to a variable rate initially set at 5%, calculated as prime plus a 0.75% margin, with a 5% floor, from a fixed rate of 5.00% per year.

To effect the changes, OFS Capital executed an amendment to its business loan agreement with Pacific Western Bank, as lender, under which the bank provides the investment company with the credit facility for general corporate purposes, including investment funding.

The Oct. 31, 2018, maturity date and all other principal covenants and terms under the credit facility are unchanged.