11/19/2024 | Press release | Distributed by Public on 11/19/2024 12:25
Item 1.01. |
Entry into a Material Definitive Agreement |
On November 13, 2024, Bain Capital Private Credit (the "Company") entered into the First Amendment to Senior Secured Revolving Credit Agreement (the "First Amendment"), which amends that certain Senior Secured Revolving Credit Agreement, dated as of December 29, 2023 (the "Closing Date"), among the Company, as borrower, Sumitomo Mitsui Banking Corporation, as administrative agent, and the lenders and issuing banks party thereto, as amended to date, including by the First Amendment. The parties to the First Amendment include the Company, as borrower, the lenders party thereto and Sumitomo Mitsui Banking Corporation, as Administrative Agent.
Effective as of September 27, 2024, the First Amendment provides for, among other things, an extension of the period by which the Company must obtain an investment grade rating from a national recognized rating agency from nine to twenty-onemonths following the anniversary of the Closing Date, failure of which would result in an increase in margin by 0.125% per annum until such rating is obtained.
The description above is only a summary of the material provisions of the First Amendment and is qualified in its entirety by reference to a copy of the First Amendment, which will be filed with the Company's Annual Report on Form 10-Kfor the fiscal year ending December 31, 2024.
2