Stone Point unit increases revolver to $750 million under new tranche

By Wendy Van Sickle

Columbus, Ohio, Feb. 1 – Stone Point Credit Corp.’s SPCC Funding I LLC unit amended its revolving credit agreement on Jan. 28 to increase the facility size to $750 million from $500 million, according to an 8-K filing with the Securities and Exchange Commission.

An accordion feature permits the company to add up to $250 million of additional borrowings. The upsize and the accordion feature fall under a new tranche that bears interest at term SOFR plus 255 basis points.

The other material terms of the revolver were unchanged.

JPMorgan Chase Bank, NA is the administrative agent.

Stone Point is a financial services firm based in Greenwich, Conn.

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