---
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"
generated_at: "2026-05-16T06:36:24.665446+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# TCW Steel City BDC subsidiary secures $475M credit facility (upsize to $2B), matures 2036

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-028063
- form_type: 8-K
- cik: 0002043133
- company_name: TCW Steel City Senior Lending BDC
- filed_at: 2026-01-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 5.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-028063
- JSON: https://secwatch.observer/filing/0001193125-26-028063.json
- Plain text: https://secwatch.observer/filing/0001193125-26-028063.txt

## 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_url: https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm
- 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_url: https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm
- 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_url: https://www.sec.gov/Archives/edgar/data/2043133/000119312526028063/0001193125-26-028063-index.htm

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