Kennedy Lewis Capital Co Amends Secured Credit Facility; Limit $550M

What Happened

• On September 28, 2026, KLCC SPV GS1 LLC, a wholly‑owned subsidiary of Kennedy Lewis Capital Co, entered into a Third Amendment to its First Amended and Restated Credit Agreement (the "Third Amendment") to update the Secured Credit Facility originally dated October 11, 2024. The amendment increases the facility size, extends the reinvestment period and scheduled maturity, and lowers the spread on borrowings.
• In connection with the Third Amendment, the Company also executed a First Amendment to the Non‑Recourse Carveout Guaranty Agreement, under which the Company guarantees certain losses, costs and liabilities arising from willful misconduct by the Company, KLCC SPV GS1 or certain controlled affiliates.

Key Details

• Financing limit increased from $500,000,000 to $550,000,000.
• Reinvestment Period extended from May 1, 2028 to September 28, 2029.
• Scheduled Maturity Date extended from May 1, 2030 to September 28, 2031.
• Borrowing spread reduced from a prior range of 2.50%–2.60% to 2.25% going forward.
• The carveout guaranty amendment imposes guarantees by the Company for losses tied to willful misconduct (as described in the filing).

Why It Matters

• The amendment gives Kennedy Lewis and its SPV more borrowing capacity and a longer operating runway through extended reinvestment and maturity dates, which can support additional investments or liquidity needs.
• A lower spread reduces the cost of borrowing under the facility, potentially improving net returns on leveraged positions.
• The Non‑Recourse Carveout Guaranty Amendment creates a specific contingent exposure: the Company has guaranteed certain losses tied to willful misconduct, which is a limited but notable change to its guaranty obligations.
• Investors should view this as a financing and risk‑management update; full terms are in the filed amendments (Exhibits 10.1 and 10.2 to the 8‑K).