08/21/2024 | Press release | Distributed by Public on 08/21/2024 13:14
Item 1.01. |
Entry into a Material Definitive Agreement |
On August 16, 2024 (the "Amendment Date"), HPS Corporate Lending Fund (the "Fund") entered into that certain Second Amendment to Credit Agreement (the "Amendment") among the Fund, as equityholder and collateral manager, HLEND Holdings D, L.P., as borrower (the "Borrower"), U.S. Bank Trust Company, National Association, as collateral agent, BNP Paribas, as administrative agent, and the lenders party thereto, amending that certain Revolving Credit and Security Agreement, dated as of March 31, 2023, among the Fund, as equityholder and collateral manager, the Borrower, U.S. Bank Trust Company, National Association, as collateral agent, BNP Paribas, as administrative agent, and the lenders from time to time party thereto (as amended and/or supplemented prior to the Amendment Date, the "Credit Agreement"). The revolving credit facility to which the Credit Agreement relates, as amended by the Amendment, is referred to herein as the "Amended Credit Facility." Capitalized terms used herein shall have the meanings in the Credit Agreement.
The Amended Credit Facility provides for, among other things, (i) an increase to the advance rate applicable to First Lien Loans and (ii) a decrease in the Applicable Margin to the greater of (a) 2.15% per annum and (b) the weighted average rate calculated with respect to each Collateral Loan part of the Borrowing Base, which shall be (x) with respect to Class 1, 1.65% per annum and (y) with respect to Class 2, Class 3 or Class 4, 2.20% per annum.
The description above is only a summary of the 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-Kand incorporated by reference herein.