OFS Capital Corporation
03/27/2026 | Press release | Distributed by Public on 03/27/2026 07:21
Material Agreement (Form 8-K)
Item 1.01. Entry into a Material Definitive Agreement.
Amendment to Senior Secured Revolving Credit Facility
On March 27, 2026, OFS Capital Corporation, a Delaware corporation (the "Company"), executed an amendment (the "Secured Revolver Amendment") to its Business Loan Agreement with Banc of California (formerly known as Pacific Western Bank), as lender ("Banc of California"), pursuant to which Banc of California provides the Company with a senior secured revolving credit facility for general corporate purposes including investment funding.
The Secured Revolver Amendment, among other things: (i) reduces the minimum tangible net asset value covenant from $100.0 million to $75.0 million; (ii) reduces the covenant requiring minimum quarterly net investment income after management/incentive fees from $2.0 million to $1.0 million for each of the quarters ending March 31, 2026, June 30, 2026 and September 30, 2026, after which the minimum quarterly net investment income after management/incentive fees covenant shall return to $2.0 million; and (iii) decreases the Company's maximum commitment amount from $25.0 million to $15.0 million. The Company incurred certain customary fees, costs and expenses in connection with the closing of the Secured Revolver Amendment.
The foregoing description of the Secured Revolver Amendment is not complete and is qualified in its entirety by the full text of such amendment, which is filed as an exhibit to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated by reference herein.
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