Golub Capital Direct Lending increases PNC revolver to $80 million

By Marisa Wong

Los Angeles, Aug. 23 – Golub Capital Direct Lending Corp. entered into a joinder and first amendment on Aug. 16 to its revolving credit and security agreement dated March 21 with PNC Bank, NA as administrative agent and PNC Capital Markets LLC as structuring agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increases the borrowing capacity under the facility to $80 million from $34 million.

In addition, the amendment adds GDLC Feeder Fund, LP as a borrower and its general partner, Golub Onshore GP 3, LLC, as a general partner under the revolver.

Golub Capital Direct Lending’s direct wholly owned subsidiary GDLC Funding LLC is an existing party to the credit agreement.

The amendment included an annualized fee payable on the closing date of the amendment equal to 0.55% of the increase in the commitments on the effective date of the changes. The fee was prorated for the remainder of the revolving period for the facility.

The other material terms of the facility were unchanged.

Golub Capital Direct Lending is a direct lending fund managed by New York-based asset manager Golub Capital.

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