OFS Capital reduces PacWest credit facility to $25M, removes No Net Losses covenant

OFS Capital Corp

Maximum borrowing capacity cut from $35M to $25M; unused commitment fee of 0.50% applies on amounts over $15M.
The No Net Losses covenant, which restricted net losses in more than two of the prior four quarters, has been eliminated.
New covenants: minimum Net Asset Value of $100M, minimum quarterly Net Investment Income of $2M, max Debt/Worth ratio of 350%.
Amendment executed December 15, 2022; PWB Credit Facility used for general corporate purposes and investment funding.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

OFS Capital Corp amended Secured Revolver Amendment with Pacific Western Bank valued at from $35.0 million to $25.0 million (effective 2022-12-15).

Action: amendment
Agreement: credit facility
Counterparty: Pacific Western Bank
Value: from $35.0 million to $25.0 million
Effective: 2022-12-15

Exact text from the filing

On December 15, 2022, OFS Capital Corporation, a Delaware corporation (the “Company”), executed an amendment (the “Secured Revolver Amendment”) to its Business Loan Agreement with Pacific Western Bank, as lender (“PacWest”), pursuant to which PacWest provides the Company with a senior secured revolving credit facility (as amended from time to time, the “PWB Credit Facility”) for general corporate purposes including investment funding.

View on SEC.gov

Browse all material agreements →

OFS Capital Corp filing history →

Source: SEC EDGAR

accession 0001487918-22-000075

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.