Morgan Stanley Direct Lending increases facility to $1.3 billion

By Marisa Wong

Los Angeles, April 23 – Morgan Stanley Direct Lending Fund entered into an amendment on April 19 to its senior secured revolving credit agreement dated July 16, 2021 with Truist Bank as administrative agent, Truist Securities, Inc. as joint lead arranger and bookrunner and ING Capital LLC, MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corp. as additional joint lead arrangers, according to an 8-K filing with the Securities and Exchange Commission.

The fourth amendment increases the size of the facility to $1.3 billion, extends the revolving period and maturity date of the facility with respect to the loans and commitments held by the lenders who consented to the maturity extension until April 19, 2028 and April 19, 2029, respectively, and modifies some covenant restrictions.

The business development company, based in New York, is externally managed by MS Capital Partners Adviser Inc.

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