GOLUB CAPITAL DIRECT LENDING CORP: debt financing — Golub Capital Direct Lending enters into $150M credit facility with Deutsche Bank

GOLUB CAPITAL DIRECT LENDING CORP

Up to $150M committed by lenders, including Deutsche Bank, to subsidiary GDLC Funding II LLC via a loan financing and servicing agreement.
Revolving period runs from May 14, 2024 through May 14, 2027; interest at base rate plus 2.25% (revolving) or 2.75% (post-revolving).
Facility is secured by all assets of GDLC Funding; proceeds used to fund loan originations by the borrower.
Non-usage fee of 0.25% p.a. on undrawn amounts; prepayment fees of 0.50% (year 1) and 0.25% (year 2) apply.
Borrowing is subject to Investment Company Act leverage restrictions.

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

GOLUB CAPITAL DIRECT LENDING CORP incurred credit facility of up to $150.0 million with Deutsche Bank AG, New York Branch at applicable base rate plus 2.25% per annum during the Revolving Period, and 2.75% maturing earliest of (i) three (3) years from the last day of the Revolving Period, (ii) the date on which the Company ceases to exist or (iii) the occurrence of an even.

Instrument: credit facility
Principal: up to $150.0 million
Counterparty: Deutsche Bank AG, New York Branch
Rate: applicable base rate plus 2.25% per annum during the Revolving Period, and 2.75%
Maturity: earliest of (i) three (3) years from the last day of the Revolving Period, (ii) the date on which the Company ceases to exist or (iii) the occurrence of an even
Event: incurrence

Exact text from the filing

collateral agent and as collateral custodian. Under the DB Credit Facility, the lenders have agreed to extend credit to GDLC Funding in an aggregate principal amount of up to $ 150.0 million as of the Effective Date. The period during which GDLC Funding may request drawdowns under the DB Credit Facility (the “Revolving Period”) commenced on the Effective Date and

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GOLUB CAPITAL DIRECT LENDING CORP entered into DB Credit Facility with Deutsche Bank AG, New York Branch (as facility agent), Deutsche Bank National Trust Company (as collateral agent and custodian), and other lenders valued at up to $150.0 million (effective 2024-05-14).

Action: entry
Agreement: credit facility
Counterparty: Deutsche Bank AG, New York Branch (as facility agent), Deutsche Bank National Trust Company (as collateral agent and custodian), and other lenders
Value: up to $150.0 million
Effective: 2024-05-14

Exact text from the filing

On May 14, 2024 (the “Effective Date”), Golub Capital Direct Lending Corporation (the “Company”), GDLC Funding II LLC (“GDLC Funding”), a direct, wholly owned subsidiary of the Company, entered into a loan financing and servicing agreement (the “DB Credit Facility”), with the Company, as equityholder and as servicer, the lenders from time to time parties thereto, Deutsche Bank AG, New York Branch, as facility agent, the other agents party thereto, each of the entities from time to time party thereto as securitization subsidiaries and Deutsche Bank National Trust Company, as collateral agent and as collateral custodian.

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Source: SEC EDGAR

accession 0001104659-24-062473

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