secwatch.observer — SEC 8-K summary
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Issuer:     Stellus Capital Investment Corp (SCM)
CIK:        0001551901
Form:       8-K
Filed at:   2023-11-22T23:59:59+00:00
Accession:  0001104659-23-120815
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stellus amends credit facility: cuts commitment to $260M, extends maturity to 2028, lowers interest coverage covenant
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- Maximum commitment reduced from $265M to $260M; accordion limit raised from $315M to $350M.
- Commitment termination extended to Nov 21, 2027; final maturity to Nov 21, 2028.
- Interest coverage ratio requirement lowered from 2.00:1.00 to 1.75:1.00, effective Q4 2023.
- Requires refinancing of $115M 4.875% Unsecured Notes due 2026 by Sept 30, 2025.
- Authorizes replacement of CDOR with CORRA benchmark for Canadian dollar advances.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1551901/000110465923120815/0001104659-23-120815-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1551901/000110465923120815/tm2331421d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-120815

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