Oaktree Gardens OLP Amends Revolving Credit Agreement; Lowers Rates

What Happened

• Oaktree Gardens OLP, LLC announced a Third Amendment to its revolving credit agreement (entered Sept. 21, 2026; effective Sept. 24, 2026) with Sumitomo Mitsui Banking Corporation as administrative agent and the lenders party thereto. The Amendment extends the loan maturity and reduces borrowing costs and certain fees. The filing also notes this constitutes the creation/modification of a direct financial obligation.

Key Details

• Maturity extended to September 23, 2027, with an option (subject to conditions) to extend in four 364‑day increments up to September 18, 2031.
• Interest rates reduced to: (a) for SOFR loans — term SOFR plus 1.75% per annum; (b) for reference rate loans — the greater of (i) Prime Rate + 0.75% or (ii) Federal Funds Rate + 1.25%.
• Unused commitment fee reduced to 0.20% when utilization is greater than 50%.
• Amendment filed as Exhibit 10.1 to the Form 8‑K.

Why It Matters

• The amendment lowers the company’s potential borrowing costs and reduces fees, which can improve liquidity and reduce interest expense if the facility is used.
• Extending the near‑term maturity to September 2027 reduces immediate refinancing pressure; the conditional extension option provides a path to longer runway through 2031 if required.
• Investors should view this as a financing update that affects the company’s debt terms and short‑ to medium‑term liquidity profile.