Edgar Filing: OFS Capital Corp

OFS Capital Corporation

Date: November 26, 2013

/s/ Robert S. Palmer

Chief Financial Officer

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November 22, 2013

OFS Capital Corporation

(Exact name of Registrant as specified in its charter)

Delaware		001-35728		46-1339639
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

2850 West Golf Road, 5th Floor Rolling Meadows, Illinois		60008
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (847) 734-2060

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01. Entry into a Material Definitive Agreement.

On November 22, 2013, OFS Capital WM, LLC (“OFS Capital WM”), a wholly-owned subsidiary of OFS Capital Corporation (the “Company”), amended its $135 million secured revolving credit facility (the “WM Credit Facility”) with Wells Fargo Bank, N.A. (“Wells Fargo”) to extend the reinvestment period from December 31, 2013 to December 31, 2015 and the final maturity date from December 31, 2016 to December 31, 2018. The WM Credit Facility continues to be secured by a pool of first lien senior secured loans and the new terms include an increase in the advance rate from 65% to 70%. In addition, the annual interest rate on the WM Credit Facility was reduced by 25 basis points, from LIBOR plus 2.75% to LIBOR plus 2.50%, with no floor.

The foregoing description of the WM Credit Facility does not purport to be complete and is qualified in its entirety by reference to the Sixth Amendment to the Loan and Security Agreement, as amended by the First Amendment to the Loan and Security Agreement dated as of November 27, 2010, the Second Amendment to the Loan and Security Agreement dated as of January 26, 2011, the Third Amendment to the Loan and Security Agreement dated as of September 28, 2012, the Fourth Amendment to the Loan and Security Agreement dated as of January 22, 2013, the Fifth Amendment to the Loan and Security Agreement dated as of April 3, 2013 and the Sixth Amendment, incorporated herein by reference. The full text of the Sixth Amendment is attached hereto as Exhibit 10.1. A press release announcing the Sixth Amendment is attached hereto as Exhibit 99.1.

Item 9.01.Financial Statements and Exhibits.

(a) Not applicable.

(b) Not applicable.

(d) Exhibits.


Exhibit No.		Description

10.1		Sixth Amendment to Loan and Security Agreement, dated as of November 22, 2013, among OFS Capital WM, LLC, MCF Capital Management LLC, as loan manager, Wells Fargo Bank, National Association, as Class A Lender, Wells Fargo Securities, LLC, as administrative agent and Wells Fargo Delaware Trust Company, N.A., as trustee.

99.1		Press Release, dated November 26, 2013

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.