Carlyle Secured Lending Inc.
10/07/2025 | Press release | Distributed by Public on 10/07/2025 14:05
Termination of Material Agreement (Form 8-K)
Item 1.02 - Termination of a Material Definitive Agreement
On October 2, 2025, Carlyle Secured Lending, Inc. (the "Company") fully repaid all outstanding borrowings under its senior secured revolving credit facility (as amended, the "CSL III SPV Credit Facility"). The Company succeeded to the obligations of Carlyle Secured Lending III ("CSL III") under the CSL III SPV Credit Facility as a result of the completion of the CSL III Merger effective March 27, 2025.
In connection with such repayment, the CSL III SPV Credit Facility was terminated, and all commitments and obligations of the lenders thereunder were cancelled. No early termination penalties were incurred in connection with the repayment.
The CSL III SPV Credit Facility was originally entered into by Carlyle Secured Lending III SPV, L.L.C. (the "CSL III SPV") on September 30, 2022, and most recently amended on March 27, 2025. The CSL III SPV Credit Facility provided for secured borrowings of up to $250,000,000, subject to availability under the facility and borrowing restrictions under the Investment Company Act. It had a revolving period through September 30, 2025 and a stated maturity date of September 30, 2030, with a one-year extension option available at the election of CSL III SPV. Borrowings under the CSL III SPV Credit Facility bore interest at a rate equal to three-month SOFR (or, if applicable, a base rate comprised of the prime rate or the federal funds rate plus 0.50%) plus 2.85%, and undrawn amounts were subject to an unused commitment fee of 0.30% per annum.
The CSL III SPV Credit Facility was secured by a first lien security interest on substantially all of the assets of CSL III SPV and included customary covenants, limitations on the incurrence of additional indebtedness and liens, and other maintenance requirements, as well as standard events of default for senior secured revolving credit facilities of this nature.
The Company does not expect the termination of the CSL III SPV Credit Facility to have a material adverse effect on its financial condition or results of operations.
The foregoing description of the CSL III SPV Credit Facility does not purport to be complete and is qualified in its entirety by reference to the full text of the facility documents, which have been filed previously with the Securities and Exchange Commission.
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