Senior Credit’s SCI BDC enters five-year $500 million credit facility

By Wendy Van Sickle

Columbus, Ohio, Dec. 8 – Senior Credit Investments, LLC wholly owned consolidated subsidiary SCI BDC SPV I LLC entered into a loan and security agreement on Thursday providing for a five-year $200 million credit facility with an additional $200 million committed starting 12 months after the effective date, according to an 8-K filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA is the administrative agent.

An uncommitted accordion feature would allow the SPV to borrow an additional $100 million.

Borrowings bear intreat at term SOFR plus a 270 basis points, and there is also a commitment fee that was not specified in the filing.

Also, on Dec. 4, Senior Credit Investments entered into a loan agreement as borrower with Jefferies Finance LLC as lender. Under this bridge facility, Senior Credit Investments borrowed $71,712,672.48 from the lender, but the amount was repaid on Dec. 7 and the bridge facility was subsequently terminated.

The company is based in New York.

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