UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 12, 2024 |
Antares Strategic Credit Fund
(Exact name of Registrant as Specified in Its Charter)
Delaware | 814-01700 | 93-3416650 | ||
(State or Other Jurisdiction | (Commission File Number) | (IRS Employer | ||
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500 West Monroe Street |
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Chicago, Illinois |
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(Address of Principal Executive Offices) |
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Registrant’s Telephone Number, Including Area Code: 312 638-4000 |
N/A |
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
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| Trading |
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N/A |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01. Entry into a Material Definitive Agreement.
On September 12, 2024, Antares Strategic Credit Fund (the “Fund”) entered into that certain Amendment No. 1 to the Loan Facility (the “Amendment”), among the Fund, as equity holder and servicer, Antares Strategic Credit SPV LLC (“Credit SPV”), a wholly-owned subsidiary of the Fund, as borrower, Société Générale, as agent (the “Agent”), U.S. Bank Trust Company, National Association, as collateral agent (“Collateral Agent”) and collateral administrator, U.S. Bank National Association, as document custodian, and the lenders party thereto, amending that certain Loan Facility, dated January 19, 2024 among the Fund, Credit SPV, the Agent, the Collateral Agent, U.S. Bank National Association, as document custodian, and the lenders party thereto (as amended by the Amendment, the “Loan Facility”). Capitalized terms used but not defined herein shall have the meanings set forth in the Loan Facility.
The Amendment provides for, among other things, an increase in the aggregate commitments of the lenders under the Loan Facility from $450.0 million to $1.0 billion, an increase the accordion feature from $1.0 billion to $1.75 billion, and revises the margin applicable to borrowings under the facility from 1.90% with respect to the portion of the Loan Facility used to finance acquisitions of broadly-syndicated loans (subject to a maximum of 20%) and 2.40% with respect to the portion of the Loan Facility used to finance acquisitions of middle-market loans, subject to a step-up of 2.00% following the occurrence of an Event of Default, to 1.85%, subject to a step-up of 2.00% following the occurrence of an Event of Default.
The description above is only a summary of the material provisions of the Amendment and is qualified in its entirety by reference to a copy of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.
Item 2.03. Creation of Direct Financial Obligation
The information included under Item 1.01 above regarding the Facility and the Agreement is incorporated by reference into this Item 2.03.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
10.1 |
| Amendment No. 1 to Loan and Servicing Agreement dated September 12, 2024 by and among Antares Strategic Credit SPV LLC, as borrower, Antares Strategic Credit Fund, as equity holder and servicer, the lenders from time to time party thereto, Société Générale, as agent, U.S. Bank Trust Company, National Association, as collateral agent and collateral administrator, and U.S. Bank National Association, as document custodian. |
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| Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
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| ANTARES STRATEGIC CREDIT FUND |
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Date: | September 16, 2024 | By: | /s/ Venugopal Rathi |
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| Name: Venugopal Rathi |
