secwatch / observer
8-K filed September 19, 2023, 7:59 PM ET CIK 0001490927
debt confidence high sentiment neutral materiality 0.40

Franklin BSP Lending Corp: debt financing — Franklin BSP Lending amends credit facility: maturity extended to 2027, margin reduced to SOFR+2.80%

Franklin BSP Lending Corp

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Franklin BSP Lending Corp amended credit facility with JPMorgan Chase Bank, National Association at SOFR plus 2.80% maturing September 15, 2027.

Instrument
credit facility
Counterparty
JPMorgan Chase Bank, National Association
Rate
SOFR plus 2.80%
Maturity
September 15, 2027
Event
amendment
Exact text from the filing
The Second Amendment, among other things, (1) extends the maturity date of the Loan and Security Agreement from August 28, 2025 to September 15, 2027, (2) changes the applicable margin for advances made to the Subsidiary under the Loan and Security Agreement from SOFR plus 3.00% (subject to further increases consistent with the terms of the Loan and Security Agreement) to SOFR plus 2.80% (subject to further increases consistent with the terms of the Loan and Security Agreement), which is inclusive of an administrative agent fee
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Franklin BSP Lending Corp amended Second Amendment with JPMorgan Chase Bank, National Association, U.S. Bank Trust Company, National Association, and U.S. Bank National Association valued at up to $800,000,000 (effective 2023-09-15).

Action
amendment
Agreement
credit facility
Counterparty
JPMorgan Chase Bank, National Association, U.S. Bank Trust Company, National Association, and U.S. Bank National Association
Value
up to $800,000,000
Effective
2023-09-15
Exact text from the filing
On September 15, 2023, Franklin BSP Lending Corporation (the “ Corporation ”) and a wholly-owned, consolidated special purpose financing subsidiary of the Corporation, FBLC 57th Street Funding, LLC (the “ Subsidiary ”), entered into a Second Amendment (the “ Second Amendment ”) to the Amended and Restated Loan and Security Agreement, dated as of April 12, 2021, by and among the Corporation, the Subsidiary, JPMorgan Chase Bank, National Association, as administrative agent (“ JPM ”), U.S. Bank Trust Company, National Association, as collateral agent and collateral administrator and U.S. Bank National Association as securities intermediary (as amended and together with the Second Amendment, the “ Loan and Security Agreement ”).
View on SEC.gov

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Source: SEC EDGAR
accession 0001104659-23-101977
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