Stone Point amends revolver for SOFR basis, adjusts accordion

By Wendy Van Sickle

Columbus, Ohio, July 7 – Stone Point Credit Corp. wholly owned subsidiary SPCC Funding I LLC amended its revolving credit agreement with JPMorgan Chase Bank, NA as administrative agent on June 30 to provide that all borrowings in U.S. dollars now bear interest at a rate based on term SOFR, according to an 8-K filing with the Securities and Exchange Commission.

Previously, tranche A borrowings were based on Libor.

Additionally, the accordion feature was amended such that the maximum borrowing capacity is $1 billion.

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

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