Palmer Square BDC amends credit facility to replace LIBOR with SOFR; no material change to terms

Palmer Square Capital BDC Inc.

Amended senior secured revolving credit facility to reference SOFR instead of LIBOR as benchmark rate.
Removed LIBOR transition language from the credit agreement.
Acknowledged assignment of collateral administrator role to U.S. Bank Trust Company, National Association.
No change to total commitments, interest rate spread, or other economic terms; no new borrowings reported.

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

Palmer Square Capital BDC Inc. amended Credit Facility Amendment with Bank of America, N.A., as administrative agent and as lender, and BofA Securities, Inc., as sole lead arranger and sole book manager (effective 2023-02-03).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent and as lender, and BofA Securities, Inc., as sole lead arranger and sole book manager
Effective: 2023-02-03

Exact text from the filing

On February 3, 2023, Palmer Square BDC Funding I LLC (“Funding”), a wholly owned subsidiary of Palmer Square Capital BDC Inc. (the “Company”), entered into an omnibus amendment (the “Credit Facility Amendment”) to its senior, secured revolving credit facility (the “Credit Facility”) with Bank of America, N.A., as administrative agent and as lender, and BofA Securities, Inc., as sole lead arranger and sole book manager.

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Source: SEC EDGAR

accession 0001213900-23-009549

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