debt
confidence high
sentiment neutral
materiality 0.60
Stone Point Credit Corp: debt financing — Stone Point Credit Corporation enters $250M senior secured revolving credit facility with Truist Bank
Stone Point Credit Corp
- $250 million initial principal, expandable to $450 million via accordion, secured by portfolio investments.
- Interest rate: Term SOFR + 1.75% (or alternate base rate + 0.75%), plus 0.125% add-on if borrowing base coverage < 1.6x.
- Commitment fee of 0.375% per annum on unused commitments; revolving period ends March 22, 2030; maturity March 21, 2031.
- Financial covenants include minimum shareholders' equity and asset coverage ratio; secured by substantially all portfolio investments.
- Joint book runners: Truist Securities, BofA Securities, Wells Fargo Securities, Capital One, Goldman Sachs, JPMorgan.