Oaktree CapitalGroup LLC said April 13 that it has received commitments from certainaccredited investors to purchase $100 million of senior notes to be issued by itsindirect subsidiary, Oaktree CapitalManagement LP, and guaranteed by its indirect subsidiaries, OaktreeCapital I LP, Oaktree Capital II LP and Oaktree AIF Investments LP.
Pursuant to the commitments, Oaktree Capital Management intendsto issue and sell to the investors $100 million of 3.69% senior notes due 2031.The offering of the notes is subject to the execution of definitive documents andis expected to close July 12. The offer and sale of the notes will be made solelyin private placement transactions.
The notes are senior unsecured obligations of Oaktree CapitalManagement, jointly and severally guaranteed by the guarantors, and will have amaturity of 15 years. Oaktree Capital Management intends to use the proceeds fromthe sale of the notes to pay down a portion of its $250 million term loan due March31, 2021.