Business
Oaktree Specialty Lending Corporation Announces Fourth Fiscal Quarter and Full Year 2025 Financial Results
LOS ANGELES, Nov. 20, 2019 (GLOBE NEWSWIRE) -- Oaktree Specialty Lending Corporation (NASDAQ: OCSL) (“Oaktree Specialty Lending” or the “Company”), a
About this update from Oaktree Specialty Lending Corporation
[{"type":"text","content":"LOS ANGELES, Nov. 20, 2019 (GLOBE NEWSWIRE) -- Oaktree Specialty Lending Corporation (NASDAQ: OCSL) (“Oaktree Specialty Lending” or the “Company”), a specialty finance company, today announced its financial results for the fiscal quarter and year ended September 30, 2019.\n Financial Highlights for the Quarter and Year Ended September 30, 2019 Total investment income was $34.5 million ($0.24 per share) and $147.7 million ($1.05 per share) for the fourth fiscal quarter and full fiscal year of 2019, respectively, as compared with $36.7 million ($0.26 per share) and $138.7 million ($0.98 per share) for the third fiscal quarter of 2019 and the full fiscal year of 2018, respectively. The increase in investment income for the full year was primarily due to higher levels of original issue discount (\"OID\") accretion and call protection fees earned on exits of certain investments. Net investment income was $16.3 million ($0.12 per share) and $67.9 million ($0.48 per share) for the fourth fiscal quarter and full fiscal year of 2019, respectively, as compared with $16.6 million ($0.12 per share) and $60.0 million ($0.43 per share) for the third fiscal quarter of 2019 and the full fiscal year of 2018, respectively. The increase in net investment income for the full year was primarily due to higher levels of investment income and lower professional fees and general and administration expenses. Net asset value (\"NAV\") per share was $6.60 as of September 30, 2019, flat as compared to $6.60 as of June 30, 2019 and up 8% from $6.09 as of September 30, 2018. The increase in NAV was primarily due to capital gains realized through the monetization of investments and appreciation of certain debt and equity investments. Originated $138.4 million of new investment commitments and received $139.0 million of proceeds from prepayments, exits, other paydowns and sales during the quarter ended September 30, 2019. A quarterly distribution was declared of $0.095 per share, payable on December 31, 2019 to stockholders of record on December 13, 2019. Mathew Pendo, President and Chief Operating Officer, said, “The fourth quarter of 2019 capped another strong fiscal year for OCSL. NAV grew by more than 8 percent over the last twelve months. We also made further progress reducing risk in the portfolio, successfully exiting $60 million of non-core investments ...