8-K: Current report
Published on May 16, 2025
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01. | Entry into a Material Definitive Agreement. |
On May 15, 2025 (the “Amendment Date”), HPS Corporate Lending Fund (the “Fund”) entered into that certain Seventh Amendment to Loan and Servicing Agreement (the “Amendment”) with HLEND Holdings A, L.P., as borrower (the “Borrower”), Morgan Stanley Bank, N.A. and Canadian Imperial Bank of Commerce, as lenders, and Morgan Stanley Senior Funding, Inc., as administrative agent (the “Agent”), amending that certain Loan and Servicing Agreement, dated as of February 3, 2022, among the Fund, as the servicer, the Borrower, U.S. Bank Trust Company, National Association, as collateral agent, the Agent, and the lenders from time to time party thereto (as amended and/or supplemented prior to the Amendment Date, the “Credit Agreement”). The revolving credit facility to which the Credit Agreement relates, as amended by the Amendment, is referred to herein as the “Amended Credit Facility.” Capitalized terms used herein shall have the meanings in the Credit Agreement, as amended by the Amendment.
The Amended Credit Facility, among other things, (i) adjusts the Applicable Margin to a blended rate based on the percentage of the aggregate Outstanding Balance that are liquid loans, subject to a floor of 1.90% (with the Applicable Margin increasing by an additional 0.10% per annum during the Amortization Period), (ii) creates a class of assets to be included in the Borrowing Base that do not require further lender approval, so long as such assets meet specific criteria and sets forth advance rates with respect to such assets, (iii) increases the facility amount to $1,250,000,000, (iv) extends the Stated Maturity to May 15, 2030, and (v) extends the Commitment Termination Date to May 11, 2028.
The description above is only a summary of the material provisions of the Amendment and is qualified in its entirety by reference to a copy of the 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 Direct Financial Obligation. |
The information included under Item 1.01 above regarding the Amendment and the Credit Agreement is incorporated by reference into this Item 2.03.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| 10.1* | Seventh Amendment to Loan and Servicing Agreement, dated May 15, 2025, by and among HLEND Holdings A, L.P., as borrower, HPS Corporate Lending Fund, as servicer, Morgan Stanley Bank, N.A. and Canadian Imperial Bank of Commerce, as lenders, and Morgan Stanley Senior Funding, Inc., as administrative agent. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
| * | Schedules to this Exhibit have been omitted in accordance with Item 601 of Regulation S-K. The registrant agrees to furnish supplementally a copy of all omitted schedules to the SEC upon its request. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HPS CORPORATE LENDING FUND | ||||||
| Date: May 16, 2025 | By: | /s/ Robert Busch |
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| Name: | Robert Busch | |||||
| Title: | Chief Financial Officer and Principal Accounting Officer | |||||