Oaktree Strategic Credit Fund: debt financing — Oaktree Strategic Credit Fund upsizes revolving credit facility to $1.1B, extends maturity to five years

Oaktree Strategic Credit Fund

Facility increased to $1,100M from $490M; four-year availability period and five-year maturity from June 28, 2023.
Borrowings bear interest at SOFR+2.15% or ABR+1.15%, stepping down to +2.05%/+1.05% if investment grade after one year.
Unused commitment fee 0.375% p.a., rising to 1.00% if daily unused portion ≥65% of total commitments.
Accordion feature permits further increase to greater of $1,250M or 150% of shareholders' equity.
Proceeds used for general corporate purposes, including investments and permitted distributions.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Oaktree Strategic Credit Fund amended revolving credit of up to $1,100 million with ING Capital LLC (administrative agent) at SOFR, as adjusted, plus 2.15% per annum maturing five years from the New Effective Date.

Instrument: revolving credit
Principal: up to $1,100 million
Counterparty: ING Capital LLC (administrative agent)
Rate: SOFR, as adjusted, plus 2.15% per annum
Maturity: five years from the New Effective Date
Event: amendment

Exact text from the filing

As a result of the Amendment, the Credit Agreement provides for a senior secured revolving credit facility of up to $1,100 million (the “ Increased Maximum Commitment ”), increased from $490 million

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Source: SEC EDGAR

accession 0001193125-23-181954

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