Morgan Stanley Direct Lending Fund (MSDL): debt financing — MSDL amends BNP facility: margin cut 30 bps during reinvestment period

Morgan Stanley Direct Lending Fund

Sixth Amendment to $XX BNP Paribas revolver reduces applicable margin during reinvestment from 2.25% to 1.95%.
After reinvestment period, margin reduced from 2.75% to 2.45%.
Borrower DLF Financing SPV LLC; Morgan Stanley Direct Lending Fund as equityholder and servicer.
Amendment effective September 24, 2025; no change to facility size or maturity disclosed.

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 amended revolving credit with BNP Paribas at a reduction in the applicable margin during the reinvestment period for each app.

Instrument: revolving credit
Counterparty: BNP Paribas
Rate: a reduction in the applicable margin during the reinvestment period for each app
Event: amendment

Exact text from the filing

The Sixth Amendment amended certain terms of the BNP Funding Facility to provide for, among other things, (i) a reduction in the applicable margin during the reinvestment period for each applicable reference rate from 2.25% per annum to 1.95% per annum and (ii) a reduction in the applicable margin following the reinvestment period for each applicable reference rate from 2.75% per annum to 2.45% per annum.

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Source: SEC EDGAR

accession 0001193125-25-223190

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