ICMB amends credit facility: replaces LIBOR with SOFR, adds Webster Bank as lender

Investcorp Credit Management BDC, Inc.

LIBOR replaced with term SOFR as benchmark under $115M revolving credit facility.
Interest spread increased to SOFR + 2.50% per annum; default rate is spread plus 2.00%.
Webster Bank N.A. joined as lender with $35M commitment; Capital One's commitment reduced to $80M.
Total facility amount remains $115M; amendment effective November 18, 2022.
Loan, Security and Investment Management Agreement dated August 23, 2021, as amended.

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

Investcorp Credit Management BDC, Inc. amended Second Amendment with CM Investment Partners, LLC, Capital One, N.A., Wells Fargo Bank, National Association, and Webster Bank, N.A. (effective 2022-11-18).

Action: amendment
Agreement: credit facility
Counterparty: CM Investment Partners, LLC, Capital One, N.A., Wells Fargo Bank, National Association, and Webster Bank, N.A.
Effective: 2022-11-18

Exact text from the filing

On November 18, 2022, Investcorp Credit Management BDC, Inc. (the “Company”), through Investcorp Credit Management BDC SPV, LLC, a wholly-owned subsidiary of the Company (“Investcorp BDC SPV”), entered into a second amendment (the “Second Amendment”) to that certain Loan, Security and Investment Management Agreement, dated August 23, 2021, by and among CM Investment Partners, LLC, Investcorp BDC SPV, as borrower, each of the lenders from time to time party thereto, Capital One, N.A., as administrative agent, swingline lender and arranger, and Wells Fargo Bank, National Association, as collateral custodian (the “Capital One Revolving Financing”).

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Source: SEC EDGAR

accession 0001193125-22-290577

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