secwatch.observer — SEC 8-K summary
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Issuer:     Overland Advantage (—)
CIK:        0001965934
Form:       8-K
Filed at:   2024-02-28T23:59:59+00:00
Accession:  0001193125-24-049456
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Overland Advantage secures $300M revolver via Morgan Stanley subsidiary; SOFR+1.70% initially
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- $300M revolving credit facility with Morgan Stanley Senior Funding; SOFR+1.70% initial rate, stepping to 2.35% then 2.85%.
- Facility matures Feb 2029; proceeds used to finance eligible loan assets and pay fees.
- Covenants include liquidity > $25M (or 7.5% of debt), NAV+unpledged commitments >=50% of total commitments, and asset coverage ratio >=1.50x.
- Advances secured by borrower assets and Overland Advantage's equity in the borrower.
- Initial draw delayed until first capital call funded or April 1, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1965934/000119312524049456/0001193125-24-049456-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1965934/000119312524049456/d749080d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-049456

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