Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
New Mountain Guardian IV Income Fund, L.L.C. incurred revolving credit of up to $15,000,000 with BMO Harris Bank N.A. at the greater of (i) the SOFR Quoted Rate (as defined in the Loan Authorization Ag maturing due upon BMO's request within 15 business days.
- Instrument
- revolving credit
- Principal
- up to $15,000,000
- Counterparty
- BMO Harris Bank N.A.
- Rate
- the greater of (i) the SOFR Quoted Rate (as defined in the Loan Authorization Ag
- Maturity
- due upon BMO's request within 15 business days
- Event
- incurrence
Exact text from the filing
On June 29, 2023 (the “Closing Date” ), New Mountain Guardian IV Unlevered BDC, L.L.C. (the “ Company ”) entered into a loan authorization agreement (the “ Loan Authorization Agreement ”) with BMO Harris Bank N.A. (" BMO "), which allows the Company to borrow on a revolving credit basis an aggregate principal amount up to $15,000,000 (the “ BMO Facility ”). All outstanding borrowings under the BMO Facility are due upon BMO's request within 15 business days. The BMO Facility is collateralized by the unfunded capital commitments of each of the Company’s investors. The BMO Facility bears interest at the greater of (i) the SOFR Quoted Rate (as defined in the Loan Authorization Agreement) for such day plus 2.50% or (ii) the prime commercial rate minus 0.25% per annum.
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