OFS Credit Company Announces Second Quarter 2019 Financial Results

OFS Credit Company, Inc. (NASDAQ: OCCI) (“OFS Credit,” the “Company,” “we,” “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“CLO”) equity and debt securities, today announced its financial results for the fiscal quarter ended April 30, 2019.

HIGHLIGHTS

• Net asset value increased to $18.95 per share from $18.82 at January 31, 2019.
• Closed $21.3 million Series A Term Preferred Stock offering during March and April, 2019.
• Closed investments totaling approximately $21.6 million during the three months ended April 30, 2019.
• Declared monthly cash distributions for common stockholders through July 2019, implying an annualized distribution of $2.00 per share.
• Net investment income during the three months ended April 30, 2019 of $0.9 million, or $0.38 per share.

Management Commentary

“Our net asset value increased to $18.95 per share at the end of the second quarter,” said Bilal Rashid, OFS Credit’s Chairman and Chief Executive Officer. “In March and April, we closed a $21.3 million Series A Term Preferred Stock offering. We invested the majority of the proceeds in the month following the offering and anticipate realizing the full benefit of this accretive offering in the third fiscal quarter.”

“We continue to see attractive investment opportunities. We believe our commitment to strong, long-term performance is aligned with the interests of OFS Capital Management, LLC, our investment advisor who, together with other insiders, owns approximately 13% of our common stock,” said Bilal Rashid.

Distributions

On April 11, 2019, the Company's Board of Directors declared the following distributions on common shares.

Record Date

Payable Date

Dividend Per Common Share

May 24, 2019

May 31, 2019

$0.167

June 21, 2019

June 28, 2019

$0.167

July 24, 2019

July 31, 2019

$0.167

RESULTS OF OPERATIONS