T Series Middle Market Loan Fund LLC

08/27/2024 | Press release | Distributed by Public on 08/27/2024 14:31

Material Agreement Form 8 K

Item 1.01 Entry into a Material Definitive Agreement.
On August 21, 2024, T Series Financing II SPV LLC ("Financing SPV II"), a Delaware limited liability company and wholly owned subsidiary of T Series Middle Market Loan Fund LLC (the "Company"), entered into a second amendment (the "Second Amendment") to that certain Revolving Credit and Security Agreement, dated as of October 12, 2022 (as amended, restated or otherwise modified from time to time, the "BNP Funding Facility"), by and among Financing SPV II, as the Borrower, the Company, as the Equity holder and the Servicer, the Lenders party thereto, State Street Bank and Trust Company, as Collateral Agent, and BNP Paribas, as Administrative Agent. The Second Amendment, amended certain terms of the BNP Funding Facility, to, amongst other things, (a) extend the Reinvestment Period to August 21, 2027, (b) extend the Final Maturity Date to August 21, 2029, (c) reduce the Applicable Margin from 2.70% to 2.25%, (d) increase the aggregate amount of commitments from $300 million to $500 million, and (e) modify certain eligibility criteria and concentration limits. The other material terms of the BNP Funding Facility remain unchanged. Borrowings under the BNP Funding Facility are subject to various covenants under the related agreements as well as the leverage restrictions contained in the Investment Company Act of 1940, as amended.
The description above is only a summary of the material provisions of the Second Amendment and is qualified in its entirety by reference to the full text of such agreement, which is filed as Exhibit 10.1 to this current report on Form 8-K and incorporated by reference herein.