10/05/2026 | Press release | Distributed by Public on 10/05/2026 13:11
| Item 1.01 |
Entry into a Material Definitive Agreement. |
On October 1, 2026, First Eagle Private Credit Fund SPV, LLC (the "Subsidiary"), as borrower, a wholly-owned financing subsidiary of First Eagle Private Credit Fund (the "Fund"), entered into the fourth amendment to the loan and servicing agreement ("Fourth Amendment"), amending that certain loan and servicing agreement (the "Loan Agreement") by and among the Subsidiary, as borrower, the Fund, as transferor, FEPC Fund Servicer LLC, as servicer, certain other lenders from time to time party thereto, Morgan Stanley Senior Funding, Inc., as administrative agent, U.S. Bank Trust Company, National Association, as collateral agent, and U.S. Bank National Association, as account bank and collateral custodian. The Fourth Amendment amends the Loan Agreement to (a) reduce the applicable margin on outstanding advances from 2.55% per annum to 2.25% per annum during the revolving period and from 3.05% per annum to 2.75% per annum during the amortization period, (b) extend the commitment termination date to October 1, 2027 and the stated maturity to October 1, 2029, (c) reduce the advance rate for recurring revenue loans from 60.0% to 50.0%, (d) reduce the unused fee rate from 0.60% to 0.50% per annum, (e) include a 1.0% prepayment premium payable in connection with a termination or reduction of commitments under the Loan Agreement prior to April 1, 2027, (f) narrow the eligible currencies under the facility to Dollars and Canadian Dollars only and require that the underlying borrowers be organized in the United States or Canada, (g) add a new event of default if the Fund ceases to be a business development company within the meaning of the Investment Company Act of 1940, (h) add a new concentration limitation for loans to obligors in the software, IT services or health care technology industries and (i) expand voting protections for minority lenders under the Loan Agreement, including expanding the types of amendments of the Loan Agreement that require consent from all of the lenders. The foregoing description is only a summary of certain of the provisions of the Fourth Amendment and is qualified in its entirety by reference to the copy of the Fourth Amendment, which is filed as Exhibit 10.1 to this current report on Form 8-K and which is incorporated herein by reference thereto.