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Get OCSL alertsMatt Stewart is recorded as COO at Oaktree Specialty Lending Corp (OCSL). Matt Stewart has spoken on 7 earnings calls across 1 company, most recently for Oaktree Specialty Lending Corp on April 30, 2024. Oaktree Specialty Lending Corp is classified in the Asset Management industry within the Financial Services sector. Other leadership on record at Oaktree Specialty Lending Corp includes Armen Panossian (CEO), Christopher McKown (CFO) and Brett McKeone (COO).
“As we noted in our prepared remarks, the second lien portfolio impacted our spreads by about 10 basis points. Overall, we had spread compression within our book of in and around 15 bps on our weighted average yield.”
“So, we did experience a 50 basis points decline in our weighted average yield on the portfolio. About 40 basis points of that was driven by the non-accruals that we mentioned in our prepared remarks.”
“Given the composition of our asset mix, which is around 90% floating rate, we structured it this way to better align our assets with our liabilities. We currently have one fixed rate note, which is our $300 million note maturing in 2025, and it corresponds to our fixed rate assets on the left side of our balance sheet.”
“I would say across both the on-balance sheet and the JVs, we were better sellers as the syndicated loan market rallied during the quarter. If you look at our repayment activity on balance sheet, about a third of that was us actively selling.”
“During the quarter, after the OSI2 merger, we also sold some low yielding assets, both in OCSL and from OSI2, throughout the quarter due to the strength in the public markets that Armen mentioned.”
Asset Management · Financial Services
COO
