UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 1.01. | Entry into a Material Definitive Agreement. |
On December 27, 2024, Stone Point Credit Corporation (the “Company”) executed a letter agreement (the “Fourth Amendment”) to amend its revolving credit agreement (as amended, the “Revolving Credit Agreement”), by and among, inter alios, the Company as the borrower, the lenders from time to time party thereto (collectively, the “Lenders”) and Capital One, National Association, as the administrative agent (the “Administrative Agent”), sole lead arranger and a Lender.
The Fourth Amendment, among other things, extends the maturity date to December 26, 2026 from December 27, 2024, reduces the maximum borrowing capacity of the Company under the Revolving Credit Agreement to $65 million from $85 million, and bifurcates the unused fee such that if the average unused portion of the commitment of the Lenders during any calendar month is more than fifty percent (50%) of the amount of the commitment of the Lenders, the unused fee increases to 50 basis points (0.50%) per annum multiplied by the daily unused portion of the commitment of the Lenders. The other material terms of the Revolving Credit Agreement were unchanged.
The description above is only a summary of the material provisions of the Fourth Amendment and is qualified in its entirety by reference to a copy of the Fourth Amendment, which is filed as Exhibit 10.1 to this current report on Form 8-K.
| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The disclosure set forth above under Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| 10.1* | Fourth Amendment to the Revolving Credit Agreement between Stone Point Credit Corporation, as the Initial Borrower, and Capital One, National Association, as the Administrative Agent, Sole Lead Arranger and a Lender, dated December 27, 2024 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
| * | Certain schedules to this Exhibit have been omitted in accordance with Item 601 of Regulation S-K. The registrant agrees to furnish supplementally a copy of all omitted schedules to the SEC upon its request. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Stone Point Credit Corporation | ||
| Dated: December 27, 2024 | By: | /s/ Gene Basov |
| Name: | Gene Basov | |
| Title: | Chief Financial Officer | |