GREENWICH, Conn., Jan. 02, 2018 (GLOBE NEWSWIRE) -- Oxford Lane Capital Corp. (NASDAQ:OXLC) (NASDAQ:OXLCO) (NASDAQ:OXLCM) announced that it entered into a Master Repurchase Agreement with Nomura Securities International, Inc.. Pursuant to the MRA and a transaction confirmation, Oxford Lane entered into a repurchase transaction with Nomura under which Oxford Lane sold collateralized loan obligation securities to Nomura with a market value of approximately $106.2 million for a purchase price of approximately $42.5 million. At the end of the Repo term, Oxford Lane is obligated to repurchase those securities from Nomura, and Nomura is obligated to sell the securities to Oxford Lane, for the original purchase price plus accrued but unpaid funding costs. The Repo has a nine-month term that may be extended by mutual agreement. The Repo has a funding cost of 3-month LIBOR plus 3.35 percent per annum, which may be adjusted in the event of an extension of the Repo term. Oxford Lane expects to treat the transaction as a secured financing for financial reporting purposes in accordance with GAAP.

About Oxford Lane Capital Corp.

Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company principally investing in debt and equity tranches of CLO vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.