AB Private Credit Investors Corp 8-K

What Happened

• On December 18, 2025, ABPCI Funding II LLC (formerly ABPCIC Funding IV LLC), a wholly owned subsidiary of AB Private Credit Investors Corporation (the Fund), entered into an amended and restated credit agreement with Natixis, New York Branch (as Administrative Agent), various lenders, U.S. Bank Trust Company (Collateral Agent/Administrator) and U.S. Bank National Association (Custodian). The agreement establishes a secured credit facility that the Borrower may draw during the commitment period and is secured by all assets held by the Borrower.
• The facility permits up to $216,000,000 of Class A‑D1 delayed‑draw term loans, $44,000,000 of Class A‑D2 delayed‑draw term loans, and $65,000,000 of Class A‑R revolving loans (which the Borrower can convert to term loans). Borrowings bear interest at three‑month SOFR plus spreads (Class A‑D1: +1.51% p.a.; Class A‑D2: +1.84% p.a.; Class A‑R: +1.57% p.a.) and mature no later than December 18, 2036 (or earlier upon acceleration).

Key Details

• Maximum commitments: $216.0M (Class A‑D1) + $44.0M (Class A‑D2) + $65.0M (Class A‑R) = potential total draw capacity defined by classes.
• Interest & payments: SOFR (3‑month) + spreads; interest payable quarterly in arrears.
• Security & administration: Borrowings are secured by the Borrower’s assets; collateral accounts are held by the Custodian under an Account Control Agreement; U.S. Bank Trust Company serves as Collateral Agent/Administrator.
• Retention & regulatory compliance: The Fund (as Retention Provider) will retain at least a 5% net economic interest in the collateral (to satisfy EU/UK securitization retention rules), intended to be held via membership interests in the Borrower.
• Manager fees: The Collateral Manager (AB Private Credit Investors LLC) waived management fees under the Credit Agreement/Collateral Management Agreement; the Borrower will reimburse reasonable out‑of‑pocket expenses.

Why It Matters

• This filing creates a material, secured financing capacity for the Fund’s subsidiary — a direct financial obligation that provides liquidity and a source of funding for purchasing or holding the assets transferred from the Fund to the Borrower. Investors should note the total potential borrowing capacity, the secured nature of the loans, and the fixed maturity date (Dec 18, 2036).
• The Fund’s retention of at least 5% of the collateral’s nominal value is intended to meet EU/UK securitization rules and keeps the Fund economically tied to the performance of the collateral. The Collateral Manager’s fee waiver reduces ongoing costs to the Borrower, but any actual impact on the Fund depends on future draw activity, asset transfers under the Transfer Agreement, and compliance with Investment Company Act restrictions.