{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-028063","form_type":"8-K","ticker":null,"cik":"0002043133","company_name":"TCW Steel City Senior Lending BDC","filed_at":"2026-01-29T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.105302+00:00","generated_at":"2026-05-16T06:36:24.665446+00:00","sec_items":["1.01","2.03","5.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"TCW Steel City BDC subsidiary secures $475M credit facility (upsize to $2B), matures 2036","bullets":["Borrower TSC BDC Financing 1 LLC entered $475M credit facility with Barings Direct Investments as agent, up to $2B with lender consent.","Facility bears interest at SOFR + 2.35% per annum; revolving and delayed draw term loans maturing Jan 2036.","Borrowings non-recourse to TCW Steel City except for pledge of subsidiary membership interests.","Board also approved amended declaration of trust to align with prior limited partnership agreement terms."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-028063","json":"https://secwatch.observer/filing/0001193125-26-028063.json","markdown":"https://secwatch.observer/filing/0001193125-26-028063.md","text":"https://secwatch.observer/filing/0001193125-26-028063.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/d46147d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T06:36:24.665446+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"bada36ec963fda9393eac31e816d54e1561821ee","claim":"TCW Steel City Senior Lending BDC incurred credit facility of up to $475 million with Barings Direct Investments LLC at three-month SOFR plus the facility margin of 2.35% per annum maturing January 23, 2036.","evidence_excerpt":"the lenders have agreed to extend credit to the Borrower in an aggregate principal amount of up to $475 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm","confidence":0.9},{"claim_id":"702de80e0cd34f217fd5fda1e92fee375f4edf5c","claim":"TCW Steel City Senior Lending BDC: Amended and Restated Declaration and Agreement of Trust to align terms with prior Limited Partnership Agreement upon conversion from Delaware LP to Delaware Statutory Trust (effective 2026-01-23).","evidence_excerpt":"On January 23, 2026, the board of trustees of the Company approved an Amended and Restated Declaration and Agreement of Trust to align its terms with the terms to which investors previously agreed under the Limited Partnership Agreement of TCW Steel City Perpetual Levered Fund LP, prior to the Company’s conversion from a Delaware Limited Partnership to a Delaware Statutory Trust.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm","confidence":0.9},{"claim_id":"e9f4a6eab4afacdf2af69f78345ce99105efb8a2","claim":"TCW Steel City Senior Lending BDC entered into Credit Agreement with Barings Direct Investments LLC valued at up to $475 million (effective 2026-01-23).","evidence_excerpt":"On January 23, 2026, TSC BDC Financing 1 LLC (the “Borrower”), a newly-formed, wholly-owned, special purpose financing subsidiary of TCW Steel City Senior Lending BDC (the “Company”) entered into a senior secured credit facility (the “Credit Facility”) pursuant to a loan and servicing agreement (the “Credit Agreement”) with Barings Direct Investments LLC (“Barings”), as administrative agent, facility servicer, and collateral custodian, the lenders from time to time party thereto and City National Bank, as revolving administrative agent.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm","confidence":0.9}],"comparable_filings":[{"accession":"0001193125-26-252668","ticker":"BTU","company_name":"PEABODY ENERGY CORP","filed_at":"2026-06-02T14:17:48+00:00","headline":"Peabody prices $250M convertible notes due 2031, repurchases $241.2M of 2028 notes","event_type":"debt","sec_items":["1.01","2.03","3.02","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-252668","json":"https://secwatch.observer/filing/0001193125-26-252668.json","markdown":"https://secwatch.observer/filing/0001193125-26-252668.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1064728/000119312526252668/0001193125-26-252668-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1064728/000119312526252668/d112966d8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the lenders have agreed to extend credit to the Borrower in an aggregate principal amount of up to $475 million","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm","comparable_excerpt":"additional $25 million in aggregate principal amount of the Notes (together with the “Initial Notes,” the “Notes”), bringing the total aggregate principal amount of the Notes to $250 million. On June 2, 2026, the Company completed the private offering of the Notes. The Notes are senior unsecured obligations of the Company. The net proceeds from this offering were","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1064728/000119312526252668/0001193125-26-252668-index.htm"}},{"accession":"0001882781-26-000041","ticker":"CBLO","company_name":"C2 Blockchain, Inc.","filed_at":"2026-06-02T14:08:44+00:00","headline":"C2 Blockchain raises $130K and up to $1.2M via convertible notes with heavy dilution","event_type":"debt","sec_items":["1.01","2.03","3.02","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001882781-26-000041","json":"https://secwatch.observer/filing/0001882781-26-000041.json","markdown":"https://secwatch.observer/filing/0001882781-26-000041.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1882781/000188278126000041/0001882781-26-000041-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1882781/000188278126000041/form8k6226o.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the lenders have agreed to extend credit to the Borrower in an aggregate principal amount of up to $475 million","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm","comparable_excerpt":"On May 22, 2026, the Company entered into a Securities Purchase Agreement with Auctus Fund, LLC (“Auctus”), pursuant to which the Company issued and sold a Promissory Note in the principal amount of $130,000 (the “Auctus Note”).","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1882781/000188278126000041/0001882781-26-000041-index.htm"}},{"accession":"0001993004-26-000044","ticker":"NWE","company_name":"NorthWestern Energy Group, Inc.","filed_at":"2026-06-02T11:22:44+00:00","headline":"NorthWestern Energy subsidiary enters $225M secured term loan, repays revolver","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.5,"calibrated_materiality_score":0.5,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001993004-26-000044","json":"https://secwatch.observer/filing/0001993004-26-000044.json","markdown":"https://secwatch.observer/filing/0001993004-26-000044.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1993004/000199300426000044/0001993004-26-000044-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1993004/000199300426000044/nwe-20260527.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the lenders have agreed to extend credit to the Borrower in an aggregate principal amount of up to $475 million","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm","comparable_excerpt":"NW Corp's obligations under the Term Loan are secured by a $225 million first mortgage bond","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1993004/000199300426000044/0001993004-26-000044-index.htm"}},{"accession":"0001140361-26-023577","ticker":"TCPC","company_name":"BlackRock TCP Capital Corp.","filed_at":"2026-06-01T20:50:02+00:00","headline":"BlackRock TCP Capital closes $535.8M CLO securitization, repays existing debt facilities","event_type":"debt","sec_items":["1.01","1.02","2.03","9.01"],"materiality_score":0.6,"calibrated_materiality_score":0.6,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-26-023577","json":"https://secwatch.observer/filing/0001140361-26-023577.json","markdown":"https://secwatch.observer/filing/0001140361-26-023577.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1370755/000114036126023577/0001140361-26-023577-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1370755/000114036126023577/ef20075169_8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the lenders have agreed to extend credit to the Borrower in an aggregate principal amount of up to $475 million","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm","comparable_excerpt":"Item 1.01. Entry into a Material Definitive Agreement. On May 27, 2026 (the \" Closing Date \"), BlackRock TCP Capital Corp. (the \" Company \"), through its subsidiary, completed a $535,780,000 securitization of certain loans held by a subsidiary of the Company (the \" CLO Transaction \"). On the Closing Date and in connection with the CLO Transaction, BlackRock DLF 2026-C","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1370755/000114036126023577/0001140361-26-023577-index.htm"}},{"accession":"0000785161-26-000161","ticker":"EHC","company_name":"Encompass Health Corp","filed_at":"2026-06-01T20:26:16+00:00","headline":"Encompass Health issues $500M 5.875% notes due 2034; to redeem $400M of 4.500% notes due 2028","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.5,"calibrated_materiality_score":0.5,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0000785161-26-000161","json":"https://secwatch.observer/filing/0000785161-26-000161.json","markdown":"https://secwatch.observer/filing/0000785161-26-000161.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/785161/000078516126000161/0000785161-26-000161-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/785161/000078516126000161/ehc-20260529.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the lenders have agreed to extend credit to the Borrower in an aggregate principal amount of up to $475 million","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm","comparable_excerpt":"On May 29, 2026, Encompass Health Corporation (the “Company”) completed the issuance and sale of $500 million in aggregate principal amount of its 5.875% Senior Notes due 2034 (the “Notes”), along with the related guarantees of the Notes by certain of the Company’s subsidiaries (the “Guarantees”), in a private offering.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/785161/000078516126000161/0000785161-26-000161-index.htm"}},{"accession":"0001628280-26-039479","ticker":"VVX","company_name":"V2X, Inc.","filed_at":"2026-06-01T20:10:20+00:00","headline":"V2X refinances $868.5M term loans with new tranche maturing 2030; SOFR+2% margin","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-26-039479","json":"https://secwatch.observer/filing/0001628280-26-039479.json","markdown":"https://secwatch.observer/filing/0001628280-26-039479.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/0001628280-26-039479-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/vec-20260529.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the lenders have agreed to extend credit to the Borrower in an aggregate principal amount of up to $475 million","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm","comparable_excerpt":"The Amendment provides for, among other things, a new tranche of term loans under the Credit Agreement in an aggregate original principal amount of $868,522,978.38 (the “New Term Loans”), which New Term Loans replace or refinance in full all of the existing term loans outstanding under the Credit Agreement (as in effect immediately prior to the Amendment), as further set forth in the Amendment. The New Term Loans mature on December 6, 2030.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/0001628280-26-039479-index.htm"}},{"accession":"0001213900-26-054183","ticker":"EMAT","company_name":"Evolution Metals & Technologies Corp.","filed_at":"2026-05-11T23:59:59+00:00","headline":"EMAT secures $100M convertible debenture facility from Yorkville; first $20M tranche issued","event_type":"debt","sec_items":["1.01","2.03","3.02","7.01","9.01"],"materiality_score":0.7,"calibrated_materiality_score":0.7,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-054183","json":"https://secwatch.observer/filing/0001213900-26-054183.json","markdown":"https://secwatch.observer/filing/0001213900-26-054183.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/0001213900-26-054183-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/ea0290073-8k_evolution.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the lenders have agreed to extend credit to the Borrower in an aggregate principal amount of up to $475 million","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm","comparable_excerpt":"The first Convertible Debenture (the “First Debenture”) in the principal amount of $20,000,000 was issued on May 7, 2026.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/0001213900-26-054183-index.htm"}},{"accession":"0000008947-26-000108","ticker":"AZZ","company_name":"AZZ INC","filed_at":"2026-05-08T23:59:59+00:00","headline":"AZZ refinances revolver; maturity extended to 2029, margins cut 50 bps","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0000008947-26-000108","json":"https://secwatch.observer/filing/0000008947-26-000108.json","markdown":"https://secwatch.observer/filing/0000008947-26-000108.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/0000008947-26-000108-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/azz-20260507.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the lenders have agreed to extend credit to the Borrower in an aggregate principal amount of up to $475 million","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm","comparable_excerpt":"The Seventh Amendment (i) terminated the Initial Revolving Credit Commitments and simultaneously replaced them in their entirety with Extended Revolving Credit Commitments having a Maturity Date of May 7, 2029, (ii) decreased the interest rate margin applicable to the Revolving Credit Loans from margins ranging from 175 basis points to 275 basis points (subject to leverage ratio step-downs) to margins ranging from 125 basis points to 225 basis points (subject to leverage ratio step-downs)","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/0000008947-26-000108-index.htm"}}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}