Item 1.01. Entry into a Material Definitive Agreement

On May 25, 2023, Oaktree Specialty Lending Corporation (the "Company") entered into an amendment (the "Amendment") to the revolving credit facility (as amended and/or restated from time to time, the "OSI2 Citibank Facility") with OSI 2 Senior Lending SPV, LLC ("OSI 2 SPV"), the Company's wholly-owned and consolidated subsidiary, as the borrower, the Company, as collateral manager, each of the lenders from time to time party thereto, Citibank, N.A., as administrative agent, and Deutsche Bank Trust Company Americas, as collateral agent. Among other things, the Amendment:



  •   increased the size of the OSI2 Citibank Facility from $250 million to
      $400 million;



  •   extended the reinvestment period from May 26, 2023 to May 25, 2025;



  •   extended the final maturity date from January 26, 2025 to January 26, 2027;



  •   modified the interest rate such that borrowings during the reinvestment
      period are subject to a rate equal to (A) in the case of a lender that is
      identified as a conduit lender, the lesser of (I) the applicable commercial
      paper rate for such conduit lender and (II) the Secured Overnight Financing
      Rate ("SOFR") plus 2.00% per annum on broadly syndicated loans and 2.75% per
      annum on all other eligible loans and (B) for all other lenders, SOFR plus
      2.00% per annum on broadly syndicated loans and 2.75% per annum on all other
      eligible loans, in all cases subject to a minimum overall rate of SOFR plus
      2.50% per annum; and



  •   modified the interest rate such that borrowings after the reinvestment period
      are subject to an applicable spread of 4.00% per annum.

The description above is only a summary of the material provisions of the Amendment is qualified in its entirety by reference to copy of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.

Item 1.02. Termination of a Material Definitive Agreement.

In connection with entry into the Amendment, the Company repaid all outstanding borrowings under its revolving credit facility (as amended and/or restated from time to time, the "Citibank Facility") with OCSL Senior Funding II LLC (formerly OCSI Senior Funding II LLC), the Company's wholly-owned, special purpose financing subsidiary, as the borrower, the Company, as collateral manager and seller, each of the lenders from time to time party thereto, Citibank, N.A., as administrative agent, and Wells Fargo Bank, National Association, as collateral agent and custodian, following which the Citibank Facility was terminated. Obligations under the Citibank Facility would have otherwise matured on November 18, 2024.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits



1.1       Sixth Amendment to Loan and Security Agreement, dated as of May 25,
        2023, by and among the Registrant, OSI 2 Senior Lending SPV, LLC, and
        Citibank, N.A.

104     Cover Page Interactive Data File (embedded within the inline XBRL
        document)



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