Item 1.01 - Entry into a Material Definitive Agreement.
On October 24, 2024, GSCR Mott Street SPV LLC (“GSCR Mott Street”), a wholly owned subsidiary of Goldman Sachs Private Credit Corp. (the “Company”), entered into the first amendment (the “First Amendment”) to the Loan and Servicing Agreement, dated as of August 9, 2024 (as otherwise amended, supplemented or otherwise modified and in effect from time to time, including by the First Amendment, the “MS Revolving Credit Facility”) by and among GSCR Mott Street, as borrower, Morgan Stanley Senior Funding, Inc. (“MS”), as administrative agent, State Street Bank and Trust Company, as collateral agent, account bank and collateral custodian, the Company, as servicer and as transferor, and the lenders party thereto.
The First Amendment, among other things, (i) joined new lenders to the MS Revolving Credit Facility and (ii) created a second tranche of commitments in the amount of $1,000,000,000 (the “Tranche B Commitments”), increasing the total facility amount from $1,000,000,000 to $2,000,000,000 in borrowings at any one time outstanding.
Advances for the Tranche B Commitments bear interest at a per annum rate equal to the benchmark in effect for the currency of the applicable advance (which in the case of US dollars is 3-month Term SOFR) plus an applicable margin of 2.15%. After the expiration of a two-year reinvestment period, the applicable margin on all outstanding advances will be 2.65% per annum.
The foregoing description is only a summary of the material provisions of the First Amendment and is qualified in its entirety by reference to a copy of the First Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.
Item 2.03 - Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.
Item 9.01 - Financial Statements and Exhibits.
(d) Exhibits:
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Exhibit Number | | Description |
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| 10.1* | | First Amendment to Loan and Servicing Agreement, dated as of October 24, 2024, by and among GSCR Mott Street, as borrower, Morgan Stanley Senior Funding, Inc., as administrative agent, State Street Bank and Trust Company, as collateral agent, account bank and collateral custodian, the Company, as servicer and as transferor, and the lenders party thereto. |
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| 104 | | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
*Certain exhibits, annexes and schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish supplementally a copy of any omitted exhibit, annex or schedule to the Securities and Exchange Commission upon its request.
