Bain Capital Private Credit: debt financing — Bain Capital Private Credit enters $50M senior secured revolving credit facility, expandable to $500M

Bain Capital Private Credit

$50M initial facility from Sumitomo Mitsui Banking Corp; accordion permits increase up to $500M.
Maturity December 29, 2028; interest rates range from 1.0% to 2.125% plus credit spread adjustment.
Proceeds for general corporate purposes, including debt repayment, distributions, and investments.
Applicable Margin step-up (0.125%) if no investment grade rating obtained within nine months.
Borrowing base coverage ratio determines Applicable Margin tiers (1.6x threshold).

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

Bain Capital Private Credit incurred credit facility of $50,000,000 with Sumitomo Mitsui Banking Corporation at 2.125% per annum maturing December 29, 2028.

Instrument: credit facility
Principal: $50,000,000
Counterparty: Sumitomo Mitsui Banking Corporation
Rate: 2.125% per annum
Maturity: December 29, 2028
Event: incurrence

Exact text from the filing

of December 29, 2023. Capitalized terms used but not defined herein shall have the meanings set forth in the Credit Agreement. The facility amount under the Credit Agreement is $50,000,000 with an accordion provision to permit increases to the total facility amount up to $500,000,000. Proceeds of the loans under the Credit Agreement may be used for general corporate

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

Bain Capital Private Credit entered into Credit Agreement with Sumitomo Mitsui Banking Corporation valued at $50,000,000 (effective 2023-12-29).

Action: entry
Agreement: credit facility
Counterparty: Sumitomo Mitsui Banking Corporation
Value: $50,000,000
Effective: 2023-12-29

Exact text from the filing

On December 29, 2023, Bain Capital Private Credit (the “Company”), entered into a senior secured revolving credit agreement (the “Credit Agreement”) as Borrower, with Sumitomo Mitsui Banking Corporation, as Administrative Agent, Sole Book Runner and Lead Arranger.

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Source: SEC EDGAR

accession 0001193125-24-002218

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