Brightwood Capital Corp I 8-K

What Happened Brightwood Capital Corp I filed an 8-K (effective Dec 18, 2025; filed Dec 23, 2025) reporting that its wholly owned subsidiary BCCI SPV-1, LLC entered into the Fifth Amendment to the Credit Agreement (originally dated Mar 30, 2025). The amendment was made among BCCI SPV-1, Brightwood Capital Advisors, LLC (servicer), KeyBank National Association (administrative and syndication agent) and other secured parties.

Key Details

• Amendment effective date: December 18, 2025.
• Facility amount increased to $350,000,000.
• Commitment Termination Date extended to December 18, 2028.
• Applicable Margin over the Benchmark reduced from 2.75% to 2.15%.
• Timing for any Applicable Prepayment Premium changed, and the “Rolling Six-Month Default Ratio Test” numerator was revised to include any of the five preceding Settlement Periods.
• The filing also notes creation of a direct financial obligation related to the amended credit agreement; the Fifth Amendment is filed as Exhibit 10.1.

Why It Matters This amendment increases the SPV’s available borrowing capacity and extends the period during which the company can draw or maintain the financing, while lowering the interest margin — all of which affect liquidity and financing cost. Changes to covenant testing (the default ratio test) and prepayment premium timing are important for monitoring covenant compliance and potential prepayment costs. Investors should view this as a refinancing and liquidity management action that can reduce near-term interest expense and provide more runway, but they should review the amendment (Exhibit 10.1) and the company’s broader financial disclosures for context on overall leverage and risk.