secwatch.observer — SEC 8-K summary
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Issuer:     Stellus Capital Investment Corp (SCM)
CIK:        0001551901
Form:       8-K
Filed at:   2022-05-19T23:59:59+00:00
Accession:  0001104659-22-062893
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stellus Capital ups revolving credit facility to $265M, transitions from LIBOR to SOFR
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- Revolving credit facility increased from $250M to $265M; commitments raised by Amegy Bank, Frost Bank, Hancock Whitney, CommunityBank of Texas.
- Term SOFR + 2.50% (2.75% if asset coverage <=1.90x) plus credit spread adjustment (0.10%-0.15%); 0.25% SOFR floor.
- Alternate base rate option remains: prime rate (3% floor) + 1.50% (1.75% if coverage test triggered).
- Amendment dated May 13, 2022, subject to conditions including lender approvals and UCC searches.
- Third Amendment formalizes LIBOR to SOFR transition, waives break funding fees for prior Eurocurrency loans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1551901/000110465922062893/0001104659-22-062893-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1551901/000110465922062893/tm2215608d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-062893

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