OFS Capital Corporation executed Amendment Nine to its Business Loan Agreement with Banc of California on March 27, 2026, which modifies key terms of its senior secured revolving credit facility, including reductions to financial covenants and the maximum commitment amount.
Key takeaways
Amendment Nine to the Business Loan Agreement was executed on March 27, 2026.
The minimum tangible net asset value covenant was reduced from $100.0 million to $75.0 million.
The minimum quarterly net investment income after fees covenant was reduced to $1.0 million for Q1, Q2, and Q3 2026, then returns to $2.0 million thereafter.
The maximum commitment amount under the revolving credit facility was decreased from $25.0 million to $15.0 million.
The lender is Banc of California (formerly Pacific Western Bank).
The Company incurred customary fees, costs, and expenses in connection with the amendment.