---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-115968"
form_type: "8-K"
ticker: "MSDL"
cik: "0001782524"
company_name: "Morgan Stanley Direct Lending Fund"
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T05:08:15.168919+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# MSDL Q1 NII $0.52/share, down from $0.57; NAV $20.65; declares $0.50 dividend

## Summary
- Net investment income $46.2M ($0.52/sh) vs $50.7M ($0.57/sh) in Q4 2024; total investment income $101.5M.
- Net asset value $20.65/sh (down from $20.81); debt-to-equity 1.11x (vs 1.08x).
- New commitments $233.4M; net funded deployment $3.8M; portfolio at 210 companies.
- Regular dividend $0.50/sh declared, payable July 25, 2025 to holders of record June 30, 2025 (no special).
- Truist credit facility amended: maturity extended to 2030, commitment $1.45B, spread 1.775%. ATM offering up to $300M.

## SEC filing metadata
- accession: 0001193125-25-115968
- form_type: 8-K
- ticker: MSDL
- cik: 0001782524
- company_name: Morgan Stanley Direct Lending Fund
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1782524/000119312525115968/0001193125-25-115968-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1782524/000119312525115968/d909256d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-115968
- JSON: https://secwatch.observer/filing/0001193125-25-115968.json
- Plain text: https://secwatch.observer/filing/0001193125-25-115968.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.