DCC enters $200M secured credit facility; issues $76.4M in unregistered shares

Diameter Credit Co

Newly formed subsidiary DCC Holdings II LLC obtained up to $200M secured revolving credit facility with Morgan Stanley as admin agent and Citibank as collateral agent.
Interest rate: reference rate plus 2.50% during 3-year revolving period, then 3.00% during amortization; maturity April 19, 2029.
Company issued 2,992,649 common shares for $76.4M in private placement on April 22, 2024, exempt from registration under Securities Act.
Proceeds from facility to fund purchase of eligible loan assets; facility subject to borrowing base and concentration limits.

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

Diameter Credit Co entered into DCC Holdings II Secured Credit Facility with Morgan Stanley Senior Funding, Inc., Citibank, N.A., Siepe, LLC valued at $200 million (effective 2024-04-19).

Action: entry
Agreement: credit facility
Counterparty: Morgan Stanley Senior Funding, Inc., Citibank, N.A., Siepe, LLC
Value: $200 million
Effective: 2024-04-19

Exact text from the filing

On April 19, 2024 (the “ Closing Date ”), Diameter Credit Company Holdings II LLC (“ DCC Holdings ”), a Delaware limited liability company and newly formed subsidiary of Diameter Credit Company (the “ Company ”), entered into a Loan and Servicing Agreement (the “ DCC Holdings II Secured Credit Facility ”), with DCC Holdings, as borrower, the Company, as transferor and as servicer, the lenders from time to time party thereto, Morgan Stanley Senior Funding, Inc., as administrative agent, Citibank, N.A., as collateral agent, as account bank and as collateral custodian, and Siepe, LLC, as collateral administrator.

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Source: SEC EDGAR

accession 0001193125-24-114373

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