Item 1.01 Entry into a Material Definitive Agreement
On March 31, 2016, Oaktree Capital Management, L.P., Oaktree Capital II, L.P., Oaktree AIF Investments, L.P., and Oaktree Capital I, L.P.
(collectively, the Borrowers) entered into the Second Amendment to Credit Agreement (the Second Amendment), which amends the Credit Agreement, dated as of March 31, 2014 (as amended through and including the Second
Amendment, the Credit Agreement), by and among the Borrowers, Wells Fargo Bank, National Association (Wells Fargo) and the other lenders party thereto. Wells Fargo acts as administrative agent, lender, letter of credit issuer
and swing line lender thereunder. Each of the Borrowers is an indirect subsidiary of Oaktree Capital Group, LLC (the Company).
The Second Amendment extends the maturity date of the Credit Agreement from March 31, 2019 to March 31, 2021; provided that the
Borrowers have the option to extend the new maturity date by one year if the lenders holding at least 50% of the aggregate amount of the term loan and the revolving loan commitment thereunder on the date of the Borrowers extension request
consent to such extension. In addition, the Second Amendment increases the minimum Assets Under Management to $60 billion; permits cash and stock dividends, except in the event of payment, financial covenant or bankruptcy-related
defaults or events of default; and makes certain other amendments to the provisions of the Credit Agreement.
Certain of the lenders under
the Credit Agreement, or their affiliates, have in the past performed, and may in the future from time to time perform, investment banking, financial advisory, commercial banking, and other services in the ordinary course of business for the Company
and its subsidiaries, for which they have received, and may in the future receive, customary compensation and, in some cases, customary indemnification and/or reimbursement of expenses.
The foregoing description is a summary and is qualified in its entirety by reference to the complete text of the Second Amendment filed as
Exhibit 10.1 hereto and incorporated herein by reference, as well as the complete text of the Credit Agreement. A copy of the Credit Agreement was filed as Exhibit 10.1 to a Current Report on Form 8-K filed with the SEC on April 4, 2014. A
copy of the First Amendment to Credit Agreement, dated as of November 3, 2014, was filed as Exhibit 10.1 to a Quarterly Report on Form 10-Q filed with the SEC on November 7, 2014.