Franklin BSP Lending amends, upsizes revolver to $505 million

By William Gullotti

Buffalo, N.Y., Dec. 14 – Franklin BSP Lending Corp. amended and restated its revolving credit facility with JPMorgan Chase Bank as administrative agent and collateral agent on Dec. 8, according to an 8-K filed with the Securities and Exchange Commission.

The facility’s availability period was extended to Dec. 8, 2027 from June 26, 2026, with the maturity date likewise extended to Dec. 8, 2028 from June 10, 2027.

Commitments also increased to $505 million from $495 million.

All other material terms of the original facility, entered June 10, 2022, remained unchanged.

Term benchmark borrowings under the facility bear interest at term SOFR plus a margin of either 185 basis points or 197.5 bps, dependent on the gross borrowing base. There is also a commitment fee of 37.5 bps.

MUFG Union Bank NA, Sumitomo Mitsui Banking Corp. and Wells Fargo Bank NA acted as syndication agents.

The business development company is based in New York.

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