Sec Form 3 Filing - GSO / Blackstone Debt Funds Management LLC @ Blackstone / GSO Strategic Credit Fund - 2012-09-25

FORM 3 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person GSO / Blackstone Debt Funds Management LLC 2. Issuer Name and Ticker or Trading Symbol Blackstone / GSO Strategic Credit Fund [ BGB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner _____ Officer (give title below) X __ Other (specify below) Invest Advisor&its affiliates (Last) (First) (Middle) C/O GSO/BLACKSTONE DEBT FUNDS MGMT, LLC, 345 PARK AVE 31ST FLOOR 3. Date of Earliest Transaction (MM/DD/YY) 09/25/2012 (Street) NEW YORK, NY10154 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Shares 5,235.6 I See Footnotes ( 1 ) ( 2 ) ( 3 ) ( 4 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other GSO / Blackstone Debt Funds Management LLC C/O GSO/BLACKSTONE DEBT FUNDS MGMT, LLC 345 PARK AVE 31ST FLOOR NEW YORK, NY10154 Invest Advisor&its affiliates GSO CAPITAL PARTNERS LP C/O GSO/BLACKSTONE DEBT FUNDS MGMT, LLC 345 PARK AVE 31ST FLOOR NEW YORK, NY10154 Affiliate GSO Advisor Holdings L.L.C. C/O THE BLACKSTONE GROUP 345 PARK AVENUE NEW YORK, NY10154 Affiliate Blackstone Holdings I L.P. C/O THE BLACKSTONE GROUP 345 PARK AVENUE NEW YORK, NY10154 Affiliate Blackstone Holdings I/II GP Inc C/O THE BLACKSTONE GROUP 345 PARK AVENUE NEW YORK, NY10154 Affiliate Blackstone Group L.P. 345 PARK AVENUE NEW YORK, NY10154 Affiliate Blackstone Group Management L.L.C. 345 PARK AVENUE NEW YORK, NY10154 Affiliate Ostrover Douglas I C/O GSO/BLACKSTONE DEBT FUNDS MGMT, LLC 345 PARK AVE NEW YORK, NY10154 Affiliate Goodman Bennett J C/O GSO/BLACKSTONE DEBT FUNDS MGMT 345 PARK AVE 31ST FLOOR NEW YORK, NY10154 Affiliate Smith J Albert III C/O GSO/BLACKSTONE DEBT FUNDS MGMT, LLC 345 PARK AVE 31ST FLOOR NEW YORK, NY10154 Affiliate Signatures /s/ Marisa Janel Beeney 09/25/2012 Signature of Reporting Person Date

Explanation of Responses:

( 1 )GSO Capital Partners LP is the sole member of GSO / Blackstone Debt Funds Management LLC. GSO Advisor Holdings L.L.C. is the general partner of GSO Capital Partners LP. Blackstone Holdings I L.P. is the sole member of GSO Advisor Holdings L.L.C. Blackstone Holdings I/II GP Inc. is the general partner of Blackstone Holdings I L.P. The Blackstone Group L.P. is the controlling shareholder of Blackstone Holdings I/II GP Inc. Blackstone Group Management L.L.C. is the general partner of The Blackstone Group L.P. Stephen A. Schwarzman is the founding member of Blackstone Group Management L.L.C. ( 2 )In addition, each of Bennett J. Goodman, J. Albert Smith III and Douglas I. Ostrover may have shared investment control with respect to the Common Shares. ( 3 )Information with respect to each of the Reporting Persons is given solely by such Reporting Persons, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person. ( 4 )Due to the limitations of the electronic filing system, Mr. Stephen A. Schwarzman is filing a separate Form 3.

Remarks: Additional Reporting Owners:GSO Capital Partners LP 345 Park Ave 31st FL New York, NY 10154Goodman Bennett J 345 Park Ave 31st FL New York, NY 10154Smith J Albert III 345 Park Ave 31st FL New York, NY 10154Ostrover Douglas I 345 Park Ave 31st FL New York, NY 10154GSO Advisor Holdings L.L.C C/O The Blackstone Group 345 Park Ave New York, NY 10154Blackstone Holdings I L.P. The Blackstone Group 345 Park Ave New York, NY 10154Blackstone Holdings I/II G.P. Inc The Blackstone Group 345 Park Ave New York, NY 10154Blackstone Group L.P. 345 Park Ave New York NY 10154Blackstone Group Management L.L.C 345 Park Ave New York NY 10154

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