---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-108523"
form_type: "8-K"
ticker: "SAR"
cik: "0001377936"
company_name: "SARATOGA INVESTMENT CORP."
filed_at: "2026-10-09T20:34:18+00:00"
generated_at: "2026-10-12T15:05:14.778842+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Saratoga unit expands Valley National credit facility to $110M from $85M; accordion raised to $135M

## Summary
- First Amendment to Credit and Security Agreement dated October 8, 2026 lifts borrowings at Saratoga Investment Funding II LLC from $85.0M to $110.0M under the Valley Credit Facility.
- Accordion expanded: SIF II may request commitment increases up to $135.0M (from $100.0M) in the first two years after closing, subject to conditions and a customary fee.
- Advance Rate on Unitranche Loans capped at 70%; healthcare concentration limit raised to 35% from 25% of Aggregate ECA Value; top-three obligor limit to 35% from 30%.
- "Key Person" definition amended to replace Henri Steenkamp with Christine Ramdihal; Valley National Bank is administrative agent, U.S. Bank Trust collateral agent, Bank OZK documentation agent.
- Company reps that no Default, Event of Default or Ratings Deficiency exists; original credit agreement dated November 6, 2025; existing security interests remain in force.

## SEC filing metadata
- accession: 0001213900-26-108523
- form_type: 8-K
- ticker: SAR
- cik: 0001377936
- company_name: SARATOGA INVESTMENT CORP.
- filed_at: 2026-10-09T20:34:18+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1377936/000121390026108523/0001213900-26-108523-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1377936/000121390026108523/ea0308242-8k_saratoga.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-108523
- JSON: https://secwatch.observer/filing/0001213900-26-108523.json
- Plain text: https://secwatch.observer/filing/0001213900-26-108523.txt

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