MSDL declares $0.50 regular and $0.10 supplemental dividends; amends credit facility

Morgan Stanley Direct Lending Fund

Regular dividend $0.50/share (annualized yield ~9.9%) and supplemental $0.10/share (~2.0%), payable Oct 25, 2023 to holders of record Sept 26, 2023.
New investment commitments of $195.1M from July 1 to Sept 26, 2023, with 99.3% in first lien debt across 7 new and 12 existing portfolio companies.
Third Amendment to BNP Funding Facility extends reinvestment period by 3 years, raises margin to 2.85% (reinvestment) and 3.35% (post), switches benchmark to Term SOFR/SONIA.
Amendment adds interest coverage test, revises concentration limits, eligibility criteria, and lender consent thresholds.
BNP Paribas remains administrative agent; no other material change to facility terms.

item 1.01 item 2.03 item 7.01 item 9.01

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

Morgan Stanley Direct Lending Fund amended Third Amendment to CSA with BNP Paribas (effective 2023-09-22).

Action: amendment
Agreement: credit facility
Counterparty: BNP Paribas
Effective: 2023-09-22

Exact text from the filing

Entry into a Material Definitive Agreement On September 22, 2023, DLF Financing SPV LLC (“DLF LLC”), a Delaware limited liability company and a wholly owned subsidiary of Morgan Stanley Direct Lending Fund (the “Company”), entered into (i) an amendment (the “Third Amendment to CSA”) to that certain Revolving Credit and Security Agreement, dated as of October 14, 2020, as amended from time to time (the “BNP Funding Facility”), by and among DLF LLC, as the borrower, the Company, as the equityholder and servicer, BNP Paribas, as the administrative agent, U.S.

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119 material agreements filed in the last 30 days. Browse all material agreements →

Morgan Stanley Direct Lending Fund filing history →

Source: SEC EDGAR

accession 0001782524-23-000030

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