Oaktree Strategic Credit Fund: debt financing — Oaktree Strategic Credit Fund subsidiary enters $200M credit facility with Morgan Stanley

Oaktree Strategic Credit Fund

OSCF Lending II SPV, LLC, a wholly owned subsidiary, entered a $200M senior secured revolving credit facility.
Facility has a three-year reinvestment period and five-year maturity; interest at SOFR + 2.35% during revolving period.
Morgan Stanley Asset Funding is administrative agent; Citibank is collateral agent and account bank.
Proceeds to be used to fund purchase of eligible loan assets; facility secured by borrower's assets.
Oaktree Strategic Credit Fund acts as transferor and servicer under the agreement.

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 revolving credit of up to $ 200 million with Morgan Stanley Asset Funding, Inc. at SOFR plus 2.35% during the Availability Period and 2.85% thereafter maturing five years after the Effective Date.

Instrument: revolving credit
Principal: up to $ 200 million
Counterparty: Morgan Stanley Asset Funding, Inc.
Rate: SOFR plus 2.35% during the Availability Period and 2.85% thereafter
Maturity: five years after the Effective Date
Event: incurrence

Exact text from the filing

On February 23, 2024 (the “ Effective Date ”), OSCF Lending II SPV, LLC ( the “ Borrower ”), a wholly owned subsidiary of Oaktree Strategic Credit Fund (the “ Company ”), entered into a loan and servicing agreement (the “ Loan and Servicing Agreement ”), among the Borrower, as borrower, the Company, as transferor and servicer, Citibank, N.A., as the collateral agent, account bank and collateral custodian, Virtus Group, LP, as collateral administrator, each of the lenders from time to time party thereto, and Morgan Stanley Asset Funding, Inc. (“ MS ”), as the administrative agent (the “ Administrative Agent ”), pursuant to which MS has agreed to extend credit to the Borrower in an aggregate principal amount up to $ 200 million (the “ Maximum Commitment ”) at any one time outstanding.

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Source: SEC EDGAR

accession 0001193125-24-050857

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