Jefferies Credit Partners BDC Inc.

10/18/2024 | Press release | Distributed by Public on 10/18/2024 14:07

Material Agreement Form 8 K

Item 1.01.

Entry into a Material Definitive Agreement.

On October 15, 2024 (the "Closing Date"), Jefferies Credit Partners BDC Inc., a Maryland corporation (the "Company"), entered into a revolving credit facility, by and among the Company, as borrower, CIBC Bank USA, as administrative agent (in such capacity, the "Administrative Agent"), arranger and initial issuing lender, and the financial institutions party thereto, as lenders (the "Credit Agreement").

The Credit Agreement provides for borrowings in U.S. dollars in an initial aggregate amount of up to $50,000,000 with an option for the Company to request, at one or more times, that existing and/or new lenders, at their election, provide up to an aggregate amount of $75,000,000.

Availability under the Credit Agreement will terminate on the earlier of October 15, 2025 (the "Stated Termination Date"), which may be extended for an additional period of up to one year subject to the consent of the Administrative Agent and extending lenders, and the date of termination of the revolving commitments thereunder.

Borrowings under the Credit Agreement are subject to compliance with a borrowing base test. Amounts drawn under the Credit Agreement will bear interest at either term 1-MonthSOFR plus 2.25% or the Prime Rate (as defined in the Credit Agreement) plus 1.70%.

During the period commencing on the Closing Date and ending on the earlier of the Stated Termination Date and the date of termination of the revolving commitments under the Credit Agreement, the Company will pay a non-usefee of 0.50% per annum, payable quarterly in arrears based on the average daily unused amount of the commitments then available thereunder.

In connection with the Credit Agreement, the Company made certain representations and warranties and must comply with various covenants and reporting requirements that are customary for facilities of this type. The Credit Agreement contains events of default customary for facilities of this type. Upon the occurrence of an event of default, the Administrative Agent, at the request of the required lenders, may terminate the commitments and declare the outstanding advances and all other obligations under the Credit Agreement immediately due and payable.

The Company's obligations under the Credit Agreement are secured by the Company's right to call capital from certain of its investors, its right to receive capital contributions from certain of its investors, the bank account into which such capital contributions are funded and all proceeds of any and all of the foregoing.

The foregoing description of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-Kand incorporated herein by reference.