Onex Direct Lending BDC Fund enters $20M revolving loan with affiliate, terminates prior facility

Onex Direct Lending BDC Fund

Terminated A&R Revolving OCF II Loan; entered new $20M revolving loan with Onex US Holdings LLC on Jan 29.
Loan bears interest at SOFR plus 1.65% per annum; commitment period ends 30 days after termination notice.
Maturity is two years from each funding; proceeds to fund investments, costs, and general corporate purposes.
Leverage Ratio covenant: cannot exceed 1.25x after borrowing.
Lender is an affiliate of the investment adviser; SPV assets not available for borrower's obligations.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Onex Direct Lending BDC Fund entered into Revolving OUSH Loan with Onex US Holdings LLC valued at Entry into revolving loan agreement to provide the Company with the ability to fund investments, pay (effective 2026-01-29).

Action: entry
Agreement: credit facility
Counterparty: Onex US Holdings LLC
Value: Entry into revolving loan agreement to provide the Company with the ability to fund investments, pay
Effective: 2026-01-29

Exact text from the filing

On January 29, 2026, the Company entered into a revolving loan agreement (“ Revolving OUSH Loan ”) with Onex US Holdings LLC, a subsidiary of the ultimate parent entity of the investment adviser of the Company.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Onex Direct Lending BDC Fund terminated A&R Revolving OCF II Loan with Onex Credit Finance II Corporation valued at Termination of amended and restated revolving loan agreement (effective 2026-01-29).

Action: termination
Agreement: credit facility
Counterparty: Onex Credit Finance II Corporation
Value: Termination of amended and restated revolving loan agreement
Effective: 2026-01-29

Exact text from the filing

On January 29, 2026, the Board of Trustees of Onex Direct Lending BDC Fund (the “ Company ”) approved the Company’s termination of the amended and restated revolving loan agreement (“ A&R Revolving OCF II Loan ”) between the Company and Onex Credit Finance II Corporation, a subsidiary of the ultimate parent entity of the investment adviser of the Company.

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Source: SEC EDGAR

accession 0001193125-26-031542

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