The bankruptcy court allowed the bankrupt oil field services company access to the full $250mn of debtor-in-possession financing requested. From a BDC perspective – with the only material exposure that of OakTree Specialty Lending (OCSL) in the 2024 senior debt – we wonder if there’s been any involvement in this new post-Chapter 11 facility. OCSL has $12mn at par in the existing debt now in default, costing nearly $1.2mn of annualized investment income since the filing on July 7, 2019, which should be reflected in its third quarter results. We also know OCSL had written the debt down (25%) at March 31, 2019 but was trading much lower in the markets as of today: a (55%) discount. Suggests the ultimate realized loss for OCSL might be in excess of $6mn, but these numbers will shift with the final resolution of the bankruptcy.