12/02/2024 | Press release | Distributed by Public on 12/02/2024 12:44
Item 1.01 Entry into a Material Definitive Agreement
On November 26, 2024, in connection with the Loan and Security Agreement, dated as of August 25, 2022 (as amended from time to time prior to the date hereof, the "Agreement"), among Fidelity Direct Lending Fund I JSPV LLC ("JSPV"), a wholly-owned subsidiary of Fidelity Private Credit Company LLC (the "Fund"), as borrower, the Fund, as portfolio manager, the lenders party thereto, JPMorgan Chase Bank, N.A. ("JPM"), as administrative agent, and State Street Bank and Trust Company, as collateral administrator, collateral agent and securities intermediary, JSPV exercised its right pursuant to the terms of the Agreement to request a Commitment increase and JPM agreed to participate in an increase of its Tranche A Financing Commitment from $750 million to $800 million. As a result, the total Financing Commitment under the Agreement increase from $950 million to $1 billion.
The foregoing description above is only a summary of material provisions of the First Commitment Increase Request and is qualified in its entirety by reference to a copy of the First Commitment Increase Request, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein. Capitalized terms used but not defined herein have the meanings ascribed thereto in the Agreement.