PIMCO Capital Solutions BDC Corp.: debt financing — PIMCO Capital Solutions BDC subsidiary enters $150M senior secured revolving credit facility with MassMutual

PIMCO Capital Solutions BDC Corp.

Amber CS LLC, wholly owned subsidiary, entered $150M secured revolving credit facility on June 19, 2023.
Lenders: Massachusetts Mutual Life Insurance Company and MassMutual Ascend Life Insurance Company.
Facility matures June 19, 2032; interest at 3-month Term SOFR plus 2.85% spread for Term SOFR advances.
Borrowings secured by substantially all assets of Amber CS and equity interest of Topaz CS LLC.
Proceeds to be used for acquiring loans and other permitted purposes; customary representations and covenants.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

PIMCO Capital Solutions BDC Corp. incurred credit facility of up to a principal amount of $150 million with Massachusetts Mutual Life Insurance Company at three month term SOFR with a spread of 2.85% maturing June 19, 2032.

Instrument: credit facility
Principal: up to a principal amount of $150 million
Counterparty: Massachusetts Mutual Life Insurance Company
Rate: three month term SOFR with a spread of 2.85%
Maturity: June 19, 2032
Event: incurrence

Exact text from the filing

and MassMutual Ascend Life Insurance Company, as initial lender. The Credit Facility provides for secured borrowings during the revolving period of up to a principal amount of $150 million in accordance with the terms of the Credit Facility. The Credit Facility has a scheduled maturity date of June 19, 2032. Borrowings under the Credit Facility bear interest

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

PIMCO Capital Solutions BDC Corp. entered into Credit Facility with Massachusetts Mutual Life Insurance Company, MassMutual Ascend Life Insurance Company valued at $150 million (effective 2023-06-19).

Action: entry
Agreement: credit facility
Counterparty: Massachusetts Mutual Life Insurance Company, MassMutual Ascend Life Insurance Company
Value: $150 million
Effective: 2023-06-19

Exact text from the filing

On June 19, 2023, Amber CS LLC (the “ Subsidiary ”), as borrower and portfolio asset servicer, a wholly-owned financing subsidiary of PIMCO Capital Solutions BDC Corp. (the “ Company ”), Topaz CS LLC, as equity holder of Subsidiary, and Opal CS LLC and Quartz CS LLC, as Subsidiary guarantors, entered into a loan servicing agreement (the “ Credit Facility ”) with Massachusetts Mutual Life Insurance Company, as initial lender, administrative agent, facility servicer, and collateral custodian, and MassMutual Ascend Life Insurance Company, as initial lender.

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Source: SEC EDGAR

accession 0001193125-23-172578

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