SCP Private Credit Income obtains $100 million revolving facility

By Marisa Wong

Morgantown, W.Va., March 5 – SCP Private Credit Income BDC LLC entered into a $100 million senior secured revolving credit facility on Feb. 27 with JPMorgan Chase Bank, NA acting as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The credit facility matures on Feb. 27, 2023 and generally bears interest at Libor plus 275 basis points for advances denominated in U.S. dollars and CDOR plus 285 bps for advances denominated in Canadian dollars.

The facility, with $100 million available initially, can be expanded up to $400 million.

Under the credit agreement, the company is required to comply with covenants including leverage restrictions and reporting requirements.

The pooled investment fund is based in New York.

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