Oaktree Strategic Credit Fund: debt financing — Oaktree Strategic Credit Fund issues $350M of 8.400% Notes due 2028

Oaktree Strategic Credit Fund

$350M aggregate principal amount, 8.400% interest, semiannual payments, maturity Nov 14, 2028.
Proceeds to be used for investments, general corporate purposes, or repaying credit facilities.
Notes are unsecured; rank senior to subordinated, equal to unsubordinated, junior to secured and structurally junior to subsidiaries.
Redeemable at Company's option prior to Oct 14, 2028 at Treasury plus 50bp or 100% plus accrued interest; thereafter at 100%.
Company obligated to file exchange offer registration statement within 365 days or pay additional interest upon registration default.

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 incurred senior notes of $350 million aggregate principal amount with Deutsche Bank Trust Company Americas at 8.400% per year maturing November 14, 2028.

Instrument: senior notes
Principal: $350 million aggregate principal amount
Counterparty: Deutsche Bank Trust Company Americas
Rate: 8.400% per year
Maturity: November 14, 2028
Event: incurrence

Exact text from the filing

The First Supplemental Indenture relates to the Company's issuance, offer and sale of $350 million aggregate principal amount of its 8.400% Notes due 2028 (the "Notes").

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Oaktree Strategic Credit Fund entered into Indenture with Deutsche Bank Trust Company Americas valued at $350 million aggregate principal amount (effective 2023-11-14).

Action: entry
Agreement: notes offering
Counterparty: Deutsche Bank Trust Company Americas
Value: $350 million aggregate principal amount
Effective: 2023-11-14

Exact text from the filing

On November 14, 2023, in connection with a previously announced private placement, Oaktree Strategic Credit Fund (the “Company”) and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”), entered into (1) an indenture (the “Indenture”) and (2) a first supplemental indenture (the “First Supplemental Indenture”) to the Indenture. The First Supplemental Indenture relates to the Company’s issuance, offer and sale of $350 million aggregate principal amount of its 8.400% Notes due 2028 (the “Notes”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

Oaktree Strategic Credit Fund entered into Registration Rights Agreement with SMBC Nikko Securities America, Inc., BNP Paribas Securities Corp., ING Financial Markets LLC (effective 2023-11-14).

Action: entry
Counterparty: SMBC Nikko Securities America, Inc., BNP Paribas Securities Corp., ING Financial Markets LLC
Effective: 2023-11-14

Exact text from the filing

In connection with the offering, the Company entered into a Registration Rights Agreement, dated as of November 14, 2023 (the “Registration Rights Agreement”), with SMBC Nikko Securities America, Inc., BNP Paribas Securities Corp., ING Financial Markets LLC and Wells Fargo Securities, LLC, as representatives of the several Initial Purchasers.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Oaktree Strategic Credit Fund entered into First Supplemental Indenture with Deutsche Bank Trust Company Americas valued at $350 million aggregate principal amount (effective 2023-11-14).

Action: entry
Agreement: notes offering
Counterparty: Deutsche Bank Trust Company Americas
Value: $350 million aggregate principal amount
Effective: 2023-11-14

Exact text from the filing

The First Supplemental Indenture relates to the Company’s issuance, offer and sale of $350 million aggregate principal amount of its 8.400% Notes due 2028 (the “Notes”).

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-23-277108

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