Franklin BSP Capital boosts loan, servicing agreement to $300 million

By Rebecca Melvin

Concord, N.H., Feb. 1 – FBCC Lending I LLC, a subsidiary of Franklin BSP Capital Corp., entered into a third amendment of its loan and servicing agreement on Jan. 31, according to an 8-K filed with the Securities and Exchange Commission.

The amended facility, originating from March 15, 2021, among other things, increases the maximum permissible borrowings under the facility to $300 million from $250 million on a committed basis. It also transitions the benchmark rate to adjusted term SOFR.

Morgan Stanley Asset Funding, Inc. is administrative agent, Morgan Stanley Bank, NA, is lender, and U.S. Bank NA is collateral agent, account bank and collateral custodian. Canadian Imperial Bank of Commerce was also added as a lender under the amended facility.

The business development company is based in New York.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.