OFS Capital Corporation Reduces Revolving Credit Facility to $80 Million

OFS Capital Corporation has reduced its revolving credit facility to $80 million. The company, which invests in debt and equity securities, aims to provide stockholders with current income and capital appreciation. Its investment activities are managed by OFS Capital Management, LLC. OFS Capital Corporation also has a subsidiary, OFSCC-FS, LLC, which invests in senior secured loan investments.

Charter Communications Operating, LLC and Charter Communications Operating Capital Corp. have issued $2 billion in senior secured notes, marking a significant debt financing move for the company. The offering consists of two tranches: $1.25 billion in senior secured notes due in 2035, carrying an annual interest rate of 5.850%, and $750 million in senior secured notes due in 2055, with an annual interest rate of 6.700%. These notes were issued at 99.932% and 99.832% of their face value, respectively [1].

The net proceeds from this offering will be used for general corporate purposes, including repaying certain indebtedness, funding potential buybacks of Charter Class A common stock and common units of Charter Communications Holdings, LLC, and paying related fees and expenses [2]. Notably, the company expects to close the offering of the notes on September 2, 2025 [3].

The issuance of these notes demonstrates Charter's ability to access debt markets and maintain financial flexibility. The dual-tranche approach allows the company to extend its debt maturity profile while balancing interest expense and maturity horizon. The involvement of three major investment banks—Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC—as joint book-runners underscores the institutional appeal of the offering [3].

The slight discount to par is standard for institutional offerings and reflects Charter's strong credit profile. This issuance provides Charter with flexibility for debt refinancing and buybacks at reasonable rates despite the high-yield environment. The allocation for potential share repurchases signals management's confidence in the stock's value proposition, despite challenges in the cable sector [3].

References:
[1] https://seekingalpha.com/news/4486779-charter-communications-prices-2b-senior-secured-notes
[2] https://www.nasdaq.com/articles/charter-communications-prices-20-bln-senior-secured-notes
[3] https://www.stocktitan.net/news/CHTR/charter-prices-2-0-billion-senior-secured-v2x86veizt4i.html