Oaktree Specialty Lending income slips to $69.4 million

• Oaktree Specialty Lending’s fiscal third-quarter investment income declined 1.4% sequentially to $69.4 million.
• Adjusted net investment income fell to $32.2 million, while net asset value remained stable at $15.70 per share.
• The company declared quarterly and supplemental distributions totalling $0.33 per share.

Oaktree Specialty Lending (NASDAQ:OCSL) reported fiscal third-quarter total investment income of $69.4 million, down from $70.4 million in the previous quarter.

The decline reflected a lower average portfolio balance and reduced non-recurring income, partly offset by restoring one investment to accrual status.

GAAP net investment income declined to $32.5 million, adjusted net investment income reached $32.2 million and diluted earnings were $0.35 per share.

Oaktree Specialty Lending declared distributions totalling $0.33 per share.

The company originated $206.4 million of investment commitments and received $262.8 million from repayments, exits, paydowns and asset sales.

Non-accrual investments declined to six from 10, while total debt stood at $1.45 billion and available liquidity approached $699 million.