Item 1.01. Entry into a Material Definitive Agreement.
On October 11, 2022, BC Partners Lending Corporation (the “Company”), through a wholly-owned, special-purpose, bankruptcy-remote subsidiary, Great Lakes BCPL Funding Ltd., an exempted company incorporated with limited liability under the laws of the Cayman Islands, entered into a Fourth Amended and Restated Confirmation with UBS AG, London Branch (“UBS”) (the “Fourth A&R Confirmation”), which supplements and is subject to the SIFMA/ICMA Global Master Repurchase Agreement (2011 version), dated as of December 12, 2019, between the Company and UBS (including any annexes thereto, the “GMRA”, and such GMRA, together with the Fourth A&R Confirmation, the “Fourth A&R Repurchase Agreement”), to amend the Third Amended and Restated Confirmation, dated as of April 8, 2022 (the “Third Confirmation”, and the GMRA, together with the Third Confirmation, the “Third Repurchase Agreement”). Pursuant to the Third Repurchase Agreement, the Company could sell certain Class A Notes, dated as of December 18, 2019, for up to a maximum aggregate purchase price of $75,000,000. Pursuant to the Fourth A&R Repurchase Agreement, the maximum aggregate purchase price was decreased to $55,000,000 and includes an option for the Company to increase such maximum aggregate purchase price to $75,000,000. The other material commercial terms of the Third Confirmation, including the repurchase date, pricing rate and spread, remain unchanged.
The description above is only a summary of the material provisions of the Fourth A&R Confirmation and is qualified in its entirety by reference to a copy of the Fourth A&R Confirmation, which is filed as Exhibit 10.1 to this current report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
