Stone Point Credit Income Fund 8-K

What Happened

• Stone Point Credit Income Fund (the “Fund”) disclosed that on June 1, 2026 its wholly owned subsidiary, SPCIF Funding II LLC (“Funding II”), entered into a Revolving Credit and Security Agreement with a syndicate led by Truist Bank and Truist Securities. The facility has a $200 million initial maximum principal amount, available subject to a borrowing base and certain conditions, and can be expanded under an accordion to up to $750 million. The Fund also entered a Purchase and Contribution Agreement with Funding II to sell and contribute certain investments to the subsidiary.

Key Details

• $200 million initial maximum principal; accordion increases limit to $750 million.
• Revolving period for borrowing and redrawing ends May 31, 2030; facility matures May 31, 2031.
• Interest: advances priced at the applicable benchmark (U.S. dollar advances use 3‑month Term SOFR) plus a margin of 1.90% per year, increasing by 0.125% per year after the revolving period.
• Facility is secured by a security interest in Funding II’s assets and by payments received on those assets; pledged assets are not available to pay the Fund’s other creditors. Borrowings under the facility are treated as borrowings of the Fund for Investment Company Act asset coverage purposes.

Why It Matters

• The agreement gives the Fund a committed source of liquidity and financing flexibility by allowing its subsidiary to borrow against contributed assets, which can help manage portfolio activity and funding needs.
• Because the loans are secured by Funding II’s assets and count as Fund borrowings for regulatory leverage tests, investors should note both the improved access to cash and the potential impact on the Fund’s leverage/asset coverage calculations.
• Interest costs and the borrowing base terms will affect the economics of using the facility; the initial margin and SOFR-based pricing define the incremental funding cost while the accordion provides capacity for future growth.