Palmer Square BDC amends credit facility to replace LIBOR with SOFR and change collateral agent

Palmer Square Capital BDC Inc.

Amendment No. 3 to $150M credit facility signed April 10, 2023 references SOFR instead of LIBOR.
U.S. Bank Trust Company, National Association replaces U.S. Bank National Association as collateral agent.
LIBOR transition language removed from the Loan and Security Agreement.
No change in facility size, interest spread, or maturity disclosed; no new advances made.

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 Amendment No. 3 with Wells Fargo Bank, National Association (effective 2023-04-10).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association
Effective: 2023-04-10

Exact text from the filing

On April 10, 2023, Palmer Square BDC Funding II LLC (“Funding”), a wholly owned subsidiary of Palmer Square Capital BDC Inc. (the “Company”), entered into Amendment No. 3 (the “Credit Facility Amendment”) to its credit facility (the “Credit Facility”) with Wells Fargo Bank, National Association, as administrative agent and as lender, and U.S. Bank National Association, as collateral agent and custodian.

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Source: SEC EDGAR

accession 0001213900-23-029505

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