secwatch.observer — SEC 8-K summary
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Issuer:     North Haven Private Income Fund LLC (—)
CIK:        0001851322
Form:       8-K
Filed at:   2023-08-11T23:59:59+00:00
Accession:  0001851322-23-000074
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

North Haven Private Income Fund issues $235M in senior notes; Tranche A due 2026, Tranche B due 2028
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- Issued $107M of 8.84% Series B Senior Notes (Tranche A) due Aug 10, 2026 and $128M of 8.88% Series B Notes (Tranche B) due Aug 10, 2028.
- Notes sold to qualified institutional investors in a private placement; net proceeds for general corporate purposes including investments and repaying debt.
- Interest payable semiannually in March and September, starting March 2024; optional redemption at par plus accrued interest and make-whole premium if redeemed before May 10, 2026/2028.
- Financial covenants require minimum shareholders' equity and asset coverage ratio at or above the statutory minimum under the Investment Company Act of 1940.
- Change-in-control triggers offer to repurchase at par; interest steps up by 1.00% (Below Investment Grade) or 1.50% (Secured Debt Ratio >0.60:1.00).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1851322/000185132223000074/0001851322-23-000074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1851322/000185132223000074/pif-20230810.htm
  HTML page:      https://secwatch.observer/filing/0001851322-23-000074

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