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MSC Income Fund shifts revolver benchmark to SOFR from Libor
Chicago, June 6 – MSC Income Fund, Inc. subsidiary MSIF Funding LLC modified its senior secured revolving credit facility with JPMorgan Chase Bank, NA to switch the benchmark interest rate to term SOFR from Libor, according to an 8-K filing with the Securities and Exchange Commission.
Borrowings will bear interest at SOFR plus 300 basis points, reflecting a 10 bps credit spread adjustment.
The amendment was signed on June 2.
MSC is a Melville, N.Y.-based distributor of a broad range of industrial products to industrial customers.
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