UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 7.01. Regulation FD Disclosure.
On November 7, 2023, Oaktree Strategic Credit Fund (the “Company”) announced that total investment income for the three months ended September 30, 2023 is estimated to be between $49.4 million and $50.4 million, net expenses for the three months ended September 30, 2023 are estimated to be between $22.4 million and $23.4 million, and net investment income for the three months ended September 30, 2023 is estimated to be between $26.0 million and $28.0 million.
The preliminary estimates described in the preceding paragraph are subject to the completion of the Company’s financial closing procedures and are not a comprehensive statement of the Company’s financial results for the three months ended September 30, 2023. The Company’s actual results may differ materially from these estimates as a result of the completion of the Company’s financial closing procedures, final adjustments and other developments arising between now and the time that the Company’s financial results for the year ended September 30, 2023 are finalized. These preliminary estimates have been prepared by, and are the responsibility of, management. The Company’s independent registered public accounting firm has not audited, reviewed, compiled or performed any procedures with respect to such preliminary estimates, and, accordingly, does not express an opinion or any other form of assurance with respect thereto.
The following are select portfolio company statistics as of September 30, 20231:
| Median EBITDA |
$251 million2 | |
| Leverage (through tranche) |
4.7x | |
| LTV (through tranche) |
38% | |
| Interest coverage |
2.0x |
| 1 | All figures based on medians. |
| 2 | EBITDA-based statistics are based on debt positions only, excluding non-EBITDA based positions (e.g., structured credit, real estate, royalty interest financing, annual recurring revenue loans and Life Sciences deals, etc.) and calculated at the issuer level. |
As of November 6, 2023, the Company had $570.0 million of principal debt outstanding of which $150.0 million was secured indebtedness of its consolidated subsidiaries and $420.0 million was secured indebtedness of Oaktree Strategic Credit Fund.
The information disclosed under this Item 7.01 is being “furnished” and shall not be deemed “filed” by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| OAKTREE STRATEGIC CREDIT FUND | ||||||
| Date: November 7, 2023 | By: | /s/ Mary Gallegly | ||||
| Name: Mary Gallegly | ||||||
| Title: General Counsel and Secretary | ||||||