secwatch.observer — SEC 8-K summary
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Issuer:     XAI Octagon Floating Rate & Alternative Income Trust (XFLT)
CIK:        0001703079
Form:       8-K
Filed at:   2025-03-26T23:59:59+00:00
Accession:  0001013762-25-002749
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

XFLT enters new $300M credit facility with BNP Paribas, replacing Société Générale facility
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- New $300M senior secured revolving credit facility with BNP Paribas; matures March 19, 2027; SOFR + 1.48% margin; commitment fee 0.55% on unused when draw below 75%.
- $237 million borrowed at closing to fully repay and terminate existing Société Générale credit facility.
- Post-closing leverage (borrowings plus preferred shares) equals 39.73% of Managed Assets.
- Customary affirmative and negative covenants apply, including limitations on indebtedness, liens, mergers, dividends, and investments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1703079/000101376225002749/0001013762-25-002749-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1703079/000101376225002749/ea0235689-01_8k.htm
  HTML page:      https://secwatch.observer/filing/0001013762-25-002749

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