UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement
On February 21, 2025, Fidelity Private Credit Fund BSPV LLC (the “BSPV”), as borrower, a subsidiary of Fidelity Private Credit Fund (the “Fund”), entered into the First Amendment (the “First Amendment”) to the Revolving Credit and Security Agreement, dated as of May 2, 2024 (the “Agreement”), with BNP Paribas (“BNP”), as administrative agent, Virtus Group, LP, as collateral administrator, State Street Bank and Trust Company, as collateral agent, the Fund, as equityholder and investment advisor, and the lenders party thereto (the “Lenders”). Capitalized terms not defined herein shall have the meanings assigned to such terms in the Agreement.
The First Amendment provides for, among other things, (i) an increase in the maximum facility amount from $250,000,000 to $400,000,000, (ii) a decrease in the applicable margin for advances (x) during the reinvestment period from 2.55% per annum to 2.35% per annum and (y) after the reinvestment period from 3.05% per annum to 2.85% per annum, (iii) the payment of certain fees as agreed between the BSPV and BNP and (iv) replacement of the benchmark for Canadian Dollars to Term CORRA.
The description above is only a summary of the material provisions of the Agreement and is qualified in its entirety by reference to a copy of the Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.
Item 2.03 Creation of Direct Financial Obligation
The information included under Item 1.01 above regarding the First Amendment and the Agreement (as amended by the First Amendment) is incorporated by reference into this Item 2.03.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
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10.1 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
*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.
SIGNATURES
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.
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Fidelity Private Credit Fund |
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Date: February 27, 2025 |
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By: |
/s/ Heather Bonner |
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Name: Heather Bonner |
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Title: President and Treasurer |