Fidelity Direct Lending Fund LP

09/17/2024 | Press release | Distributed by Public on 09/17/2024 11:54

Private Placement Form 8 K

Item 1.01 Entry into a Material Definitive Agreement

On September 12, 2024, Fidelity Direct Lending Fund I JSPV LLC ("JSPV"), a wholly-owned subsidiary of Fidelity Private Credit Central Fund LLC (the "Fund"), as borrower, and the Fund, as portfolio manager, entered into Amendment No. 3 to Loan and Security Agreement (the "Amendment"), amending the Loan and Security Agreement, dated as of August 25, 2022 (as amended from time to time prior to the date hereof, including by the Amendment, the "Agreement"), among JSPV, as borrower, the Fund, as portfolio manager, the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, Virtus Group, LP as collateral administrator, and Citibank, N.A. as collateral agent.

The Amendment provides for, among other things, (i) a two-year extension of the reinvestment period (and accordingly an extension of the scheduled maturity to February 25, 2029); (ii) a decrease in the applicable margin to 2.3193% per annum for certain advances in Great British Pounds and to 2.20% per annum for other advances; and (iii) replacement of the benchmark for Canadian Dollars to Term CORRA.

The description above is only a summary of material provisions of the Amendment and is qualified in its entirety by reference to a copy of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.