Morgan Stanley Direct Lending Fund (MSDL): debt financing — MSDL subsidiary closes $401.2M CLO with notes due 2037; sub tranches retained

Morgan Stanley Direct Lending Fund

Completed $401.2M term debt securitization via North Haven Private Credit CLO 1 LLC on Sept 17, 2025.
Issued $232M Class A-1 debt (SOFR+1.54%), $16M A-2 notes (SOFR+1.70%), $24M Class B notes (SOFR+1.90%).
Also issued $32M Class C (SOFR+2.40%), $24M Class D (SOFR+3.55%) and $73.2M Subordinated Notes (no interest).
Proceeds support a portfolio of senior secured and second lien loans; MSDL retains all Subordinated Notes.
Secured Notes due Oct 2037; revolving reinvestment period through Oct 2029.

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

Morgan Stanley Direct Lending Fund incurred credit facility of $50,000,000 in Class A-1 Loans at 3-month Term SOFR plus 1.54% maturing October 20, 2037.

Instrument: credit facility
Principal: $50,000,000 in Class A-1 Loans
Rate: 3-month Term SOFR plus 1.54%
Maturity: October 20, 2037
Event: incurrence

Exact text from the filing

$50,000,000 in Class A-1 Loans (the "Class A-1 Loans") pursuant to the Class A-1 Credit Agreement (as defined below), which bear interest at a rate of 3-month Term SOFR plus 1.54%

View on SEC.gov

41 debt financings filed in the last 30 days. Browse all debt financings →

Morgan Stanley Direct Lending Fund filing history →

Source: SEC EDGAR

accession 0001193125-25-211335

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.