Fidelity Private Credit Fund subsidiary enters $250M revolving credit facility with BNP Paribas

Fidelity Private Credit Fund

Revolving facility of $250M, secured by portfolio investments, with BNP Paribas as administrative agent.
Interest rate: Term SOFR plus 2.55% (revolving period) or plus 3.05% (amortization period).
Availability ends May 2, 2027; facility matures May 2, 2029.
Proceeds for general corporate purposes, including debt repayment, distributions, and investments.
Borrower is subsidiary Fidelity Private Credit Fund BSPV LLC; subject to borrowing base and customary covenants.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Fidelity Private Credit Fund entered into Revolving Credit and Security Agreement with BNP Paribas, as administrative agent; Virtus Group, LP, as collateral administrator; State Street Bank and Trust Company, as collateral agent; the lenders party thereto valued at $250,000,000 (effective 2024-05-02).

Action: entry
Agreement: credit facility
Counterparty: BNP Paribas, as administrative agent; Virtus Group, LP, as collateral administrator; State Street Bank and Trust Company, as collateral agent; the lenders party thereto
Value: $250,000,000
Effective: 2024-05-02

Exact text from the filing

On May 2, 2024, Fidelity Private Credit Fund BSPV LLC (the “BSPV”), as Borrower, a subsidiary of Fidelity Private Credit Fund (the “Fund”), entered into a revolving credit facility (the “Facility”) pursuant to a Revolving Credit and Security Agreement (the “Agreement”), with BNP Paribas, as administrative agent, Virtus Group, LP, as collateral administrator, State Street Bank and Trust Company, as collateral agent, the Fund, as equityholder and investment advisor, and the lenders party thereto (the “Lenders”).

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Source: SEC EDGAR

accession 0000950170-24-054331

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