Commonwealth Credit amends $130 million revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, Oct. 1 – Commonwealth Credit Partners BDC, Inc. entered an amendment to its credit agreement on Sept. 27 with Goldman Sachs Bank USA as lender that provides for a facility B credit facility included as part of the umbrella credit facility first entered into on June 14, according to an 8-K filing with the Securities and Exchange Commission.

The credit facility is structured as a revolver secured by the capital commitments of the company’s subscribed investors and some related assets.

As amended, the company may borrow up to the lesser of $130 million and the borrowing base.

Borrowings bear interest of Libor plus 270 basis points per annum, term SOFR plus 11.448 bps plus 270 bps per annum or the U.S. Prime rate plus 170 bps.

The business development company is based in West Palm Beach, Fla.

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