Barings Private Credit amends revolver; extends maturity to May 2029, adjusts pricing

Barings Private Credit Corp

Fifth Amendment extends borrowing period to May 2027 and maturity to May 2029.
Interest rate set at Term SOFR plus 2.50% (reinvestment period) or 3.00% (post-reinvestment).
Unused fee increased to up to 1.375% (through Mar 2025) then 2.00% per annum.
Canadian dollar advances benchmark changed from CDOR to Daily Compounded CORRA.
Concentration limitations amended; no default or event of default occurred.

Key facts

Extracted from this filing and checked against the source text.

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

Barings Private Credit Corp amended Fifth Amendment with BNP Paribas, State Street Bank and Trust Company, and the lenders party thereto (effective 2024-05-09).

Action: amendment
Agreement: credit facility
Counterparty: BNP Paribas, State Street Bank and Trust Company, and the lenders party thereto
Effective: 2024-05-09

Exact text from the filing

On May 9, 2024, Barings Private Credit Corporation (the “Company”) and BPC Funding LLC (“BPC Funding”), a wholly-owned subsidiary of the Company, entered into the Fifth Amendment (the “Fifth Amendment”) to the Revolving Credit and Security Agreement (the “Revolving Credit Agreement”), dated May 11, 2021, by and among BPC Funding, as borrower, the Company, as the equityholder and the servicer, BNP Paribas (“BNPP”), as administrative agent, State Street Bank and Trust Company, as collateral agent, and each of the lenders from time to time party thereto.

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Source: SEC EDGAR

accession 0001140361-24-026243

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