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Oaktree Specialty Lending Corporation Announces Third Fiscal Quarter 2024 Financial Results and Declares Quarterly Distribution of $0.55 Per Share
LOS ANGELES, CA, Aug. 01, 2024 (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, CA, Aug. 01, 2024 (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 ended June 30, 2024. Financial Highlights for the Quarter Ended June 30, 2024 Total investment income was $95.0 million ($1.16 per share) for the third fiscal quarter of 2024, as compared with $94.0 million ($1.18 per share) for the second fiscal quarter of 2024. The increase was primarily driven by higher interest income as a result of the growth in the investment portfolio and higher original issue discount (“OID”) accretion driven by purchase premium acceleration in the prior quarter from the repayment of certain investments acquired in the mergers with Oaktree Strategic Income Corporation (“OCSI”) and Oaktree Strategic Income II, Inc. (“OSI2”). This was partially offset by the impact of certain investments that were placed on non-accrual status and a decrease in amendment fees. Adjusted total investment income was $95.6 million ($1.17 per share) for the third fiscal quarter, as compared with $97.3 million ($1.22 per share) for the second fiscal quarter of 2024. The decrease was primarily driven by lower interest income due to the impact of certain investments that were placed on non-accrual status and lower OID acceleration from investment repayments as well as a decrease in amendment fees. This was partially offset by higher coupon interest income as a result of the growth in the investment portfolio.GAAP net investment income was $44.6 million ($0.54 per share) for the third fiscal quarter of 2024, as compared with $41.4 million ($0.52 per share) for the second fiscal quarter of 2024. The increase for the quarter was primarily driven by lower part I incentive fees (net of fees waived) and higher total investment income, partially offset by higher interest expense.Adjusted net investment income was $45.2 million ($0.55 per share) for the third fiscal quarter of 2024, as compared with $44.7 million ($0.56 per share) for the second fiscal quarter of 2024. The increase for the quarter was primarily driven by lower part I incentive fees (net of fees waived), partially offset by lower adjusted total investment income and higher interest expense. The per share decrease for the quarter was dri...