Jefferies Credit’s JCP BDC closes $500 million credit facility

By Wendy Van Sickle

Columbus, Ohio, Dec. 8 – Jefferies Credit Partners BDC Inc. wholly owned, consolidated subsidiary JCP BDC SPV I LLC entered into a loan and security agreement on Tuesday providing for a $500 million five-year credit facility with an additional $300 million committed starting 12 months after the effective date, according to an 8-K filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA is the administrative agent.

An uncommitted accordion feature would allow the SPV to borrow an additional $500 million.

Borrowings bear interest at term SOFR plus 270 basis points, and there is also a commitment fee that was not specified in the filing.

Also, on Dec. 4, Jefferies Credit Partners entered into a loan agreement as borrower with Jefferies Finance LLC as lender. Under this bridge facility, Jefferies Credit Partners borrowed $163,743,935.54 from the lender, but the amount was repaid on Dec. 7 and the bridge facility was subsequently terminated.

Jefferies Finance is a New York-based leveraged loan arranger and investor with over $12 billion of managed capital equally owned by Jefferies Group LLC and Massachusetts Mutual Life Insurance Co.

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