Stone Point Credit Corp 8-K

What Happened

• Stone Point Credit Corporation filed an 8-K dated March 23, 2026 announcing it entered into a Senior Secured Revolving Credit Agreement (the "Truist Facility") with Truist Bank as administrative agent and the lenders party thereto. The initial aggregate amount available under the facility is $250 million, with an accordion to increase capacity up to $450 million subject to conditions. The agreement is secured by a security interest in substantially all of the Company’s portfolio investments (and those of guarantor subsidiaries, subject to exceptions).

Key Details

• Facility size: $250 million initial borrowing base; expandable to $450 million via accordion.
• Interest: Term SOFR (or another benchmark) + 1.75%; alternate base rate loans at alternate base + 0.75%; borrowings increase by 0.125% if Gross Borrowing Base < 1.6x Combined Debt. Credit adjustment spreads also apply.
• Fees and term: 0.375% per annum commitment fee on unused commitments. Revolving period ends on the earlier of March 22, 2030 or a Trigger Event related to an IPO; facility matures March 21, 2031. Mandatory prepayments apply after the revolving period from certain asset sales and financings.
• Covenants and security: Secured by substantially all portfolio investments; includes customary affirmative/negative covenants and financial covenants (minimum shareholders’ equity and asset coverage ratio) and limitations on additional indebtedness/liens.

Why It Matters

• The new Truist Facility provides Stone Point Credit with near-term committed liquidity (initially $250M) and capacity to grow that line to $450M, which supports working capital needs, portfolio activity and potential investments. The collateralized nature of the loan and financial covenants mean the facility is tied closely to the value of the Company’s portfolio and imposes limits on future leverage and liens. Key commercial terms—interest spreads, commitment fee, maturity and the IPO-related Trigger Event—are material for investors because they affect the Company’s cost of capital, repayment profile and flexibility.