On Oct. 11, 2024, KLCC SPV GS1 LLC, a wholly owned subsidiary of Kennedy Lewis Capital Company, entered into a first amended and restated credit agreement that significantly expands its secured credit facility, according to an 8-K filing. Goldman Sachs Bank USA served as syndication agent and calculation agent, while GS ASL LLC took over as the new administrative agent. State Street Bank and Trust Co. remains the collateral agent, collateral custodian and collateral administrator.
The amended agreement increases the financing limit from $300 million to $500 million, extends the reinvestment period to May 1, 2028, and pushes the scheduled maturity date to May 1, 2030. Additionally, the amendment lowers the interest rate spread on borrowings from a range of 3.25% to 3.50% to 2.50% to 2.60%, depending on the percentage of BSL loans within the collateral pool.
The expansion and reduction in borrowing costs provide Kennedy Lewis Capital with greater financial flexibility, allowing the company to strategically reinvest and manage its capital needs over a longer period. The amended facility will support funding operations and long-term liquidity needs.
