Business Context and Reporting Period
This Form 8-K was filed by Fifth Street Finance Corp. (not Oaktree Specialty Lending Corp. as indicated in metadata) on September 20, 2011, reporting events occurring on September 16, 2011. The registrant is a Delaware corporation headquartered in White Plains, New York.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, or existing debt levels. The primary financial metric disclosed is the terms of a new credit facility:
- Facility Amount: Not specified in the text.
- Interest Rate: LIBOR plus 2.25% per annum.
- Term: Seven years, maturing September 16, 2018.
- Security: Secured by first lien assets.
- Extension Option: Includes an option for a one-year extension.
Material Changes
The material change reported is the entry into a definitive agreement with Sumitomo Mitsui Banking Corporation to establish a new seven-year credit facility. This creates a direct financial obligation for the registrant.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or specific risk factors beyond the standard obligations of the new debt instrument. No unusual items or contingencies were disclosed in this report.
Investor Verification Checklist
- Verify the principal amount of the credit facility, as it is not explicitly stated in this 8-K.
- Confirm the specific assets pledged as collateral under the "first lien assets" description.
- Review the full text of the credit agreement (likely filed as an exhibit in a subsequent filing or referenced in the press release) for covenants and prepayment penalties.
- Clarify the discrepancy between the metadata company name (Oaktree Specialty Lending Corp.) and the registrant name in the document (Fifth Street Finance Corp.).