| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers B > Headlines for BPC Funding LLC > News item |
Barings Private Credit increases revolver, switches to SOFR
Chicago, March 15 – Barings Private Credit Corp. and subsidiary borrower BPC Funding LLC entered into a second amendment to its revolving credit facility originally signed May 11, 2021 with BNP Paribas as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.
The March 9 amendment increases availability to $800 million from $600 million.
The interest rate is also being replaced with SOFR, from Libor, for U.S. dollar-based borrowings. Interest will be SOFR plus 180 basis points to 275 bps, depending on the nature of the advances being requested.
Starting Sept. 9, 2022, there will be an unused fee of 125 bps if the unused facility is greater than half or 75 bps if the unused facility is between 25% and 50% of availability.
State Street Bank and Trust Co. is the collateral agent.
Barings is an investment manager based in Charlotte, N.C.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.