Manulife Private Credit gets up to $150 million secured facility

By Mary-Katherine Stinson

Lexington, Ky., March 28 – Manulife Private Credit Fund SPV, LLC, a wholly owned subsidiary of Manulife Private Credit Fund, on March 26 entered a loan and security agreement that provides a secured credit facility of up to $150 million with a reinvestment period ending March 26, 2027, according to an 8-K filing with the Securities and Exchange Commission.

The facility has a final maturity date of March 26, 2029.

The facility may be increased to a maximum of $500 million, subject to certain conditions.

Borrowings under the facility will bear interest at term SOFR plus 270 basis points, subject to increases for default rate interest from time to time.

There is an administrative agency fee and a commitment fee on the undrawn balance.

JPMorgan Chase Bank, NA is the administrative agent.

The Bank of New York Mellon Trust Co., NA is the collateral agent, collateral administrator and securities intermediary.

Proceeds from the funding facility must be used for the permitted purposes, including purchasing certain corporate loans originated by Manulife Private Credit Fund or its affiliates or purchasing other portfolio investments.

Boston-based Manulife Private Credit Fund is a private equity and credit partner that specializes in providing custom capital solutions for middle market enterprises.

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