Material Agreement Form 8 K

Item 1.01. Entry into a Material Definitive Agreement.

Indenture and Second Supplemental Indenture

On July 23, 2024, 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 a second supplemental indenture (the "Second Supplemental Indenture") to the indenture, dated November 14, 2023 between the Company and the Trustee (the "Indenture"). The Second Supplemental Indenture relates to the Company's issuance, offer and sale of $400 million aggregate principal amount of its 6.500% Notes due 2029 (the "Notes").

The Notes mature on July 23, 2029 (the "Maturity Date"), unless previously redeemed or repurchased in accordance with their terms. The Notes bear interest at a rate of 6.500% per year payable semiannually in arrears on January 23 and Ju 3 of each year, commencing on January 23, 2025. The Notes are the Company's direct, unsecured obligations and rank senior in right of payment to the Company's future indebtedness that is expressly subordinated in right of payment to the Notes; equal in right of payment to the Company's existing and future unsecured indebtedness that is not so subordinated; effectively junior in right of payment to any of the Company's secured indebtedness (including existing unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness; and structurally junior to all existing and future indebtedness (including trade payables) incurred by the Company's subsidiaries, financing vehicles or similar facilities.

Prior to June 23, 2029 (one month prior to the maturity date of the Notes) (the "Par Call Date"), the Company may redeem the Notes at its option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a year consisting of twelve months) at the Treasury Rate (as defined in the Second Supplemental Indenture) plus 40 basis points less (b) interest accrued to the date of redemption, and (2) 100% of the principal amount of the Notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption date. On or after the Par Call Date, the Company may redeem the Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to the redemption date. The Notes will not be subject to any sinking fund. In addition, if a Change of Control Repurchase Event (as defined in the Second Supplemental Indenture) occurs prior to maturity, unless the Company has exercised its right to redeem the Notes in full, holders will have the right, at their option, to require the Company to repurchase for cash some or all of the Notes at a repurchase price equal to 100% of the principal amount of the Notes being repurchased, plus accrued and unpaid interest to, but not including, the repurchase date.

The Indenture, as supplemented by the Second Supplemental Indenture, contains certain covenants, including a covenant requiring the Company to comply with Section 18(a)(1)(A) as modified by Section 61(a)(1) and (2) of the Investment Company Act of 1940, as amended, or any successor provisions, but giving effect to any exemptive relief granted to the Company by the Securities and Exchange Commission (the "SEC") and to provide financial information to the holders of the Notes and the Trustee if the Company should no longer be subject to the reporting requirements under the Securities Exchange Act of 1934, as amended. These covenants are subject to important limitations and exceptions that are set forth in the Indenture.

The Notes were sold to the several initial purchasers (the "Initial Purchasers") in a private placement in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and for the initial resale by the Initial Purchasers to persons reasonably believed to be qualified institutional buyers in transactions exempt from registration under the Securities Act pursuant to Rule 144A under the Securities Act and to persons outside the United States in compliance with Regulation S under the Securities Act. The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration. The transaction closed on July 23, 2024.

The Company intends to use the net proceeds from the offering to make investments in accordance with its investment objective and strategies or for general corporate purposes (including to repay a portion of the amount outstanding under its credit facilities).

The description above is only a summary of the material provisions of the Indenture, the Second Supplemental Indenture and the Notes and is qualified in its entirety by reference to copies of the Indenture, the Second Supplemental Indenture and the Notes, respectively, each filed as exhibits to this Current Report on Form and incorporated by reference herein.

Registration Rights Agreement

In connection with the offering, the Company entered into a Registration Rights Agreement, dated as of July 23, 2024 (the "Registration Rights Agreement"), with Wells Fargo Securities, LLC, Barclays Capital Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the several Initial Purchasers. Pursuant to the Registration Rights Agreement, the Company is obligated to file with the SEC a registration statement with respect to an offer to exchange the Notes for a new issue of debt securities registered under the Securities Act with terms substantially identical to those of the Notes (except for provisions relating to transfer restrictions and payment of additional interest) and to use its commercially reasonable efforts to consummate such exchange offer on the earliest practicable date after the registration statement has been declared effective but in no event later than 365 days after the initial issuance of the Notes. If the Company fails to satisfy its registration obligations under the Registration Rights Agreement, it will be required to pay additional interest to the holders of the Notes.

The description above is only a summary of the material provisions of the Registration Rights Agreement and is qualified in its entirety by reference to the copy of the Registration Rights Agreement, filed as an exhibit to this Current Report on Form and incorporated by reference herein.