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 April 11, 2025, SPCC Funding I LLC executed a letter agreement (the “First Amendment”) to amend the senior secured revolving credit facility (the “Revolving Credit Facility”) with JPMorgan Chase Bank, National Association (“JPM”). Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Revolving Credit Facility (as amended by the First Amendment).
Under the First Amendment, JPM and each other lender party and each of their respective successors and permitted assigns have agreed to make Tranche A Advances and Tranche B Advances with the following changes to the applicable margin: (a) with respect to interest based on a Benchmark, 2.00% per annum; provided that, in the case of Tranche B Advances denominated in pound Sterling, the applicable margin for Advances shall be 2.1193% per annum, (b) with respect to interest based on Term SOFR, 2.00% per annum, and (c) with respect to interest based on the Base Rate, 2.00% per annum; provided that, in the case of Tranche B Advances denominated in pound Sterling, the applicable margin for Advances shall be 2.1193% per annum. The parties to the First Amendment also extended the Non-Call Period to align with the Reinvestment Period. The other material terms of the Revolving Credit Facility were unchanged.
The description above is only a summary of the material provisions of the First Amendment and is qualified in its entirety by reference to a copy of the First 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
| * | 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: April 15, 2025 | By: | /s/ Steven Henke |
| Name: | Steven Henke | |
| Title: | Chief Financial Officer | |